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

Spruce Biosciences, Inc. (NASDAQ:SPRBGet Free Report) has been assigned a consensus rating of “Hold” from the eight ratings firms that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $5.00.

Several research firms have recently weighed in on SPRB. Oppenheimer cut their price target on Spruce Biosciences from $4.00 to $3.00 and set an “outperform” rating for the company in a research note on Thursday. SVB Leerink downgraded shares of Spruce Biosciences from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $9.00 to $2.00 in a research note on Thursday, March 14th. JMP Securities dropped their price target on shares of Spruce Biosciences from $8.00 to $3.00 and set a “market outperform” rating on the stock in a research note on Thursday, March 14th. LADENBURG THALM/SH SH downgraded shares of Spruce Biosciences from a “buy” rating to a “neutral” rating in a report on Thursday, March 14th. Finally, Leerink Partnrs cut shares of Spruce Biosciences from an “outperform” rating to a “market perform” rating in a report on Thursday, March 14th.

Check Out Our Latest Stock Analysis on Spruce Biosciences

Spruce Biosciences Stock Up 1.0 %

Spruce Biosciences stock opened at $0.67 on Friday. The firm has a 50 day moving average price of $0.73 and a 200-day moving average price of $2.11. The company has a quick ratio of 4.67, a current ratio of 4.67 and a debt-to-equity ratio of 0.02. Spruce Biosciences has a twelve month low of $0.66 and a twelve month high of $5.95. The company has a market capitalization of $27.66 million, a P/E ratio of -0.59 and a beta of 2.49.

Spruce Biosciences (NASDAQ:SPRBGet Free Report) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.04. Spruce Biosciences had a negative return on equity of 57.53% and a negative net margin of 461.67%. The business had revenue of $2.00 million for the quarter, compared to the consensus estimate of $1.12 million. As a group, equities analysts predict that Spruce Biosciences will post -1.33 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Holdings A/S Novo sold 359,979 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $0.73, for a total value of $262,784.67. Following the sale, the insider now owns 3,015,021 shares in the company, valued at $2,200,965.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Superstring Capital Management LP purchased a new position in Spruce Biosciences in the fourth quarter worth $348,000. AWM Investment Company Inc. bought a new stake in Spruce Biosciences during the first quarter worth about $157,000. Worth Venture Partners LLC boosted its holdings in shares of Spruce Biosciences by 8.8% in the 3rd quarter. Worth Venture Partners LLC now owns 302,074 shares of the company’s stock worth $683,000 after purchasing an additional 24,450 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Spruce Biosciences during the 1st quarter valued at about $289,000. Finally, AIGH Capital Management LLC increased its position in shares of Spruce Biosciences by 9.0% during the 3rd quarter. AIGH Capital Management LLC now owns 1,211,000 shares of the company’s stock valued at $2,737,000 after purchasing an additional 100,000 shares during the last quarter. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Spruce Biosciences Company Profile

(Get Free Report

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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Analyst Recommendations for Spruce Biosciences (NASDAQ:SPRB)

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