Spruce Biosciences, Inc. (NASDAQ:SPRB) Receives $5.00 Consensus Target Price from Analysts

Spruce Biosciences, Inc. (NASDAQ:SPRBGet Free Report) has been assigned an average rating of “Hold” from the eight ratings firms that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $5.00.

Several analysts have recently issued reports on the company. Oppenheimer reduced their price objective on Spruce Biosciences from $4.00 to $3.00 and set an “outperform” rating on the stock in a research note on Thursday, June 13th. HC Wainwright reissued a “neutral” rating on shares of Spruce Biosciences in a research report on Wednesday, June 5th. Guggenheim cut shares of Spruce Biosciences from a “buy” rating to a “neutral” rating in a report on Thursday, March 14th. LADENBURG THALM/SH SH cut shares of Spruce Biosciences from a “buy” rating to a “neutral” rating in a report on Thursday, March 14th. Finally, Leerink Partnrs lowered shares of Spruce Biosciences from an “outperform” rating to a “market perform” rating in a report on Thursday, March 14th.

Get Our Latest Analysis on SPRB

Spruce Biosciences Stock Down 2.9 %

Shares of NASDAQ:SPRB opened at $0.55 on Thursday. The firm has a market capitalization of $22.53 million, a PE ratio of -0.48 and a beta of 2.41. Spruce Biosciences has a 1 year low of $0.50 and a 1 year high of $5.95. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.67 and a quick ratio of 4.67. The firm’s 50-day moving average is $0.67 and its two-hundred day moving average is $1.97.

Spruce Biosciences (NASDAQ:SPRBGet Free Report) last announced its earnings results on Monday, May 13th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.04. Spruce Biosciences had a negative net margin of 461.67% and a negative return on equity of 57.53%. The firm had revenue of $2.00 million for the quarter, compared to the consensus estimate of $1.12 million. Analysts predict that Spruce Biosciences will post -1.24 EPS for the current year.

Institutional Investors Weigh In On Spruce Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of SPRB. AWM Investment Company Inc. purchased a new position in shares of Spruce Biosciences during the first quarter worth about $157,000. Acadian Asset Management LLC purchased a new position in Spruce Biosciences during the 1st quarter worth approximately $289,000. Superstring Capital Management LP acquired a new position in Spruce Biosciences during the fourth quarter worth approximately $348,000. Worth Venture Partners LLC lifted its stake in Spruce Biosciences by 8.8% in the third quarter. Worth Venture Partners LLC now owns 302,074 shares of the company’s stock valued at $683,000 after buying an additional 24,450 shares during the last quarter. Finally, AIGH Capital Management LLC boosted its holdings in shares of Spruce Biosciences by 75.4% in the fourth quarter. AIGH Capital Management LLC now owns 2,123,863 shares of the company’s stock valued at $6,223,000 after acquiring an additional 912,863 shares during the period. 91.71% of the stock is currently owned by institutional investors and hedge funds.

About Spruce Biosciences

(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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