Royal Bank of Canada reaffirmed their sector perform rating on shares of Spruce Biosciences (NASDAQ:SPRB – Free Report) in a research report report published on Tuesday,Benzinga reports. They currently have a $2.00 price target on the stock.
Separately, HC Wainwright reaffirmed a “neutral” rating on shares of Spruce Biosciences in a report on Monday, August 19th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.00.
Read Our Latest Stock Analysis on Spruce Biosciences
Spruce Biosciences Price Performance
Spruce Biosciences (NASDAQ:SPRB – Get Free Report) last posted its 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. Spruce Biosciences had a negative return on equity of 59.94% and a negative net margin of 450.38%. The company had revenue of $0.60 million for the quarter, compared to analyst estimates of $1.80 million. As a group, research analysts anticipate that Spruce Biosciences will post -1.12 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its holdings in shares of Spruce Biosciences by 35.1% in the 2nd quarter. Renaissance Technologies LLC now owns 366,100 shares of the company’s stock worth $190,000 after buying an additional 95,100 shares during the last quarter. AWM Investment Company Inc. bought a new stake in Spruce Biosciences in the first quarter worth about $157,000. Acadian Asset Management LLC purchased a new position in Spruce Biosciences in the first quarter valued at about $289,000. Finally, Almitas Capital LLC bought a new position in shares of Spruce Biosciences during the 2nd quarter valued at approximately $205,000. Institutional investors own 91.71% of the company’s stock.
About Spruce Biosciences
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.
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