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

Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) have earned a consensus rating of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $2.17.

Separately, Royal Bank of Canada decreased 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.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Spruce Biosciences stock. Boothbay Fund Management LLC bought a new position in shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 288,800 shares of the company’s stock, valued at approximately $121,000. Boothbay Fund Management LLC owned 0.70% of Spruce Biosciences at the end of the most recent quarter. 91.71% of the stock is currently owned by institutional investors.

Spruce Biosciences Stock Performance

SPRB opened at $0.06 on Thursday. Spruce Biosciences has a fifty-two week low of $0.06 and a fifty-two week high of $0.69. The business has a fifty day simple moving average of $0.12 and a 200-day simple moving average of $0.30. The firm has a market cap of $2.53 million, a PE ratio of -0.06 and a beta of 2.38. The company has a quick ratio of 5.36, a current ratio of 5.36 and a debt-to-equity ratio of 0.01.

Spruce Biosciences (NASDAQ:SPRB) last issued its earnings results on Tuesday, April 15th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.37). Spruce Biosciences had a negative return on equity of 62.10% and a negative net margin of 555.23%. The business had revenue of $0.55 million during the quarter, compared to analyst estimates of $0.50 million. As a group, equities analysts predict that Spruce Biosciences will post -1 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.