Spruce Biosciences, Inc. (NASDAQ:SPRB) Given Average Recommendation of “Hold” by Brokerages

Spruce Biosciences, Inc. (NASDAQ:SPRB) has earned an average recommendation of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $4.00.

Several equities analysts have issued reports on SPRB shares. HC Wainwright reaffirmed a “neutral” rating on shares of Spruce Biosciences in a report on Monday, August 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $2.00 price target on shares of Spruce Biosciences in a research note on Tuesday, November 12th.

Hedge Funds Weigh In On Spruce Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC raised its holdings in Spruce Biosciences by 35.1% in the 2nd quarter. Renaissance Technologies LLC now owns 366,100 shares of the company’s stock valued at $190,000 after acquiring an additional 95,100 shares during the last quarter. Almitas Capital LLC purchased a new stake in shares of Spruce Biosciences in the second quarter valued at approximately $205,000. Finally, Acadian Asset Management LLC grew its position in shares of Spruce Biosciences by 270.9% in the second quarter. Acadian Asset Management LLC now owns 1,367,997 shares of the company’s stock valued at $707,000 after purchasing an additional 999,166 shares in the last quarter. 91.71% of the stock is owned by hedge funds and other institutional investors.

Spruce Biosciences Price Performance

Shares of Spruce Biosciences stock opened at $0.50 on Friday. The firm has a market cap of $20.64 million, a PE ratio of -0.53 and a beta of 2.34. Spruce Biosciences has a twelve month low of $0.41 and a twelve month high of $5.95. The company has a quick ratio of 5.36, a current ratio of 5.36 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $0.51 and a 200 day moving average price of $0.53.

Spruce Biosciences (NASDAQ:SPRB) last posted its quarterly earnings data on Monday, November 11th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.06. Spruce Biosciences had a negative return on equity of 62.10% and a negative net margin of 555.23%. The business had revenue of $0.60 million during the quarter, compared to analysts’ expectations of $1.80 million. Sell-side analysts predict that Spruce Biosciences will post -1.03 earnings per share 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.