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

Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) have earned an average rating of “Hold” from the six brokerages that are covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $2.17.

Separately, Royal Bank of Canada cut their target price on shares of Spruce Biosciences from $1.50 to $0.50 and set a “sector perform” rating for the company in a research note on Wednesday, April 16th.

Spruce Biosciences Price Performance

Shares of Spruce Biosciences stock opened at $0.06 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.36 and a quick ratio of 5.36. Spruce Biosciences has a fifty-two week low of $0.06 and a fifty-two week high of $0.77. The firm has a fifty day moving average price of $0.20 and a two-hundred day moving average price of $0.35. The company has a market cap of $2.74 million, a PE ratio of -0.07 and a beta of 2.49.

Spruce Biosciences (NASDAQ:SPRB) last released its quarterly earnings data on Tuesday, April 15th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.37). The business had revenue of $0.55 million for the quarter, compared to the consensus estimate of $0.50 million. Spruce Biosciences had a negative return on equity of 62.10% and a negative net margin of 555.23%. Analysts expect that Spruce Biosciences will post -1 EPS for the current year.

Institutional Investors Weigh In On Spruce Biosciences

An institutional investor recently bought a new position in Spruce Biosciences stock. Boothbay Fund Management LLC purchased a new stake in Spruce Biosciences, Inc. (NASDAQ:SPRB) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 288,800 shares of the company’s stock, valued at approximately $121,000. Boothbay Fund Management LLC owned 0.70% of Spruce Biosciences as of its most recent SEC filing. 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.