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

Spruce Biosciences, Inc. (NASDAQ:SPRB) has been given a consensus recommendation of “Hold” by the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $3.90.

Several equities analysts have commented on SPRB shares. JMP Securities reiterated a “market perform” rating and set a $3.00 price objective on shares of Spruce Biosciences in a research report on Wednesday, December 11th. Oppenheimer reiterated a “market perform” rating on shares of Spruce Biosciences in a research report on Wednesday, December 11th. HC Wainwright restated a “neutral” rating on shares of Spruce Biosciences in a report on Monday, December 16th. Guggenheim restated a “neutral” rating on shares of Spruce Biosciences in a report on Thursday, December 12th. Finally, Citizens Jmp lowered shares of Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th.

Spruce Biosciences Stock Performance

Shares of NASDAQ SPRB opened at $0.36 on Monday. The firm has a fifty day moving average price of $0.45 and a 200-day moving average price of $0.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.36 and a quick ratio of 5.36. The stock has a market cap of $15.07 million, a PE ratio of -0.39 and a beta of 2.38. Spruce Biosciences has a 1 year low of $0.34 and a 1 year high of $5.95.

Spruce Biosciences (NASDAQ:SPRB) last announced its quarterly earnings data on Monday, November 11th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.06. Spruce Biosciences had a negative net margin of 555.23% and a negative return on equity of 62.10%. The firm had revenue of $0.60 million during the quarter, compared to analysts’ expectations of $1.80 million. Equities analysts anticipate that Spruce Biosciences will post -1 earnings per share for the current fiscal year.

Institutional Trading of Spruce Biosciences

An institutional investor recently bought a new position in Spruce Biosciences stock. Almitas Capital LLC purchased a new position in Spruce Biosciences, Inc. (NASDAQ:SPRB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 396,506 shares of the company’s stock, valued at approximately $205,000. Almitas Capital LLC owned approximately 0.96% of Spruce Biosciences as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 91.71% of the company’s stock.

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.