Spruce Biosciences, Inc. (NASDAQ:SPRB) Receives Average Rating of “Hold” from Brokerages

Spruce Biosciences, Inc. (NASDAQ:SPRB) has been assigned a consensus recommendation of “Hold” from the eight analysts that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $5.00.

Several equities analysts recently issued reports on the company. Oppenheimer decreased their price target on Spruce Biosciences from $4.00 to $3.00 and set an “outperform” rating on the stock in a report on Thursday, June 13th. HC Wainwright reiterated a “neutral” rating on shares of Spruce Biosciences in a research report on Wednesday, June 5th.

Institutional Trading of Spruce Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of SPRB. AIGH Capital Management LLC boosted its stake in Spruce Biosciences by 75.4% during the 4th quarter. AIGH Capital Management LLC now owns 2,123,863 shares of the company’s stock worth $6,223,000 after acquiring an additional 912,863 shares during the last quarter. Worth Venture Partners LLC raised its holdings in Spruce Biosciences by 74.4% in the fourth quarter. Worth Venture Partners LLC now owns 526,933 shares of the company’s stock worth $1,544,000 after purchasing an additional 224,859 shares during the period. Acadian Asset Management LLC bought a new position in shares of Spruce Biosciences during the first quarter worth $289,000. AWM Investment Company Inc. bought a new position in shares of Spruce Biosciences during the first quarter worth $157,000. Finally, Superstring Capital Management LP acquired a new position in shares of Spruce Biosciences in the 4th quarter valued at $348,000. 91.71% of the stock is owned by institutional investors.

Spruce Biosciences Price Performance

Shares of SPRB stock opened at $0.49 on Monday. Spruce Biosciences has a 1 year low of $0.48 and a 1 year high of $5.95. The company has a current ratio of 4.67, a quick ratio of 4.67 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average is $0.59 and its 200-day moving average is $1.71. The firm has a market capitalization of $19.98 million, a price-to-earnings ratio of -0.43 and a beta of 2.41.

Spruce Biosciences (NASDAQ:SPRB) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.04. The firm had revenue of $2.00 million for the quarter, compared to the consensus estimate of $1.12 million. Spruce Biosciences had a negative return on equity of 57.53% and a negative net margin of 461.67%. Sell-side analysts forecast that Spruce Biosciences will post -1.24 EPS for the current fiscal year.

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.