Spruce Biosciences (NASDAQ:SPRB) Earns Neutral Rating from HC Wainwright

Spruce Biosciences (NASDAQ:SPRB)‘s stock had its “neutral” rating restated by investment analysts at HC Wainwright in a research report issued on Monday,Benzinga reports.

A number of other research firms have also recently commented on SPRB. JMP Securities restated a “market perform” rating and issued a $3.00 price objective on shares of Spruce Biosciences in a research report on Wednesday, December 11th. Citizens Jmp downgraded Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $1.50 price objective (down previously from $2.00) on shares of Spruce Biosciences in a report on Wednesday, December 11th. Oppenheimer reiterated a “market perform” rating on shares of Spruce Biosciences in a research report on Wednesday, December 11th. Finally, Guggenheim restated a “neutral” rating on shares of Spruce Biosciences in a report on Thursday. Nine analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Spruce Biosciences currently has a consensus rating of “Hold” and a consensus price target of $3.90.

Spruce Biosciences Trading Down 1.0 %

NASDAQ:SPRB opened at $0.38 on Monday. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.01. Spruce Biosciences has a 1-year low of $0.37 and a 1-year high of $5.95. The firm has a market capitalization of $15.83 million, a price-to-earnings ratio of -0.41 and a beta of 2.34. The business’s 50-day moving average price is $0.51 and its two-hundred day moving average price is $0.52.

Spruce Biosciences (NASDAQ:SPRB) last announced its quarterly earnings results on Monday, November 11th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.06. The business had revenue of $0.60 million for the quarter, compared to the consensus estimate of $1.80 million. Spruce Biosciences had a negative net margin of 555.23% and a negative return on equity of 62.10%. On average, equities analysts expect that Spruce Biosciences will post -1.03 earnings per share for the current year.

Institutional Trading of Spruce Biosciences

Several institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its position in Spruce Biosciences by 270.9% during the second quarter. Acadian Asset Management LLC now owns 1,367,997 shares of the company’s stock worth $707,000 after acquiring an additional 999,166 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Spruce Biosciences by 35.1% during the second quarter. Renaissance Technologies LLC now owns 366,100 shares of the company’s stock worth $190,000 after purchasing an additional 95,100 shares during the period. Finally, Almitas Capital LLC acquired a new stake in shares of Spruce Biosciences in the second quarter valued at approximately $205,000. 91.71% of the stock is currently owned by institutional investors.

Spruce Biosciences Company Profile

Spruce Biosciences, Inc, a biopharmaceutical company, focuses on developing and commercializing novel therapies for rare endocrine disorders. The company engages in developing tildacerfont, a non-steroidal therapy to enhance disease control and reduce steroid burden for patients suffering from congenital adrenal hyperplasia (CAH), which is in Phase 2b clinical trial; and to evaluate glucocorticoid reduction in adult patients with classic CAH that is Phase 2b clinical trial.