Spruce Biosciences, Inc. (NASDAQ:SPRB) Given Consensus Rating of “Hold” by Brokerages

Spruce Biosciences, Inc. (NASDAQ:SPRB) has earned an average recommendation of “Hold” from the eight research firms that are presently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $5.00.

Several equities 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 for the company in a research report on Thursday, June 13th. HC Wainwright reiterated a “neutral” rating on shares of Spruce Biosciences in a research report on Wednesday, June 5th.

Spruce Biosciences Stock Performance

SPRB stock opened at $0.49 on Monday. Spruce Biosciences has a 1 year low of $0.48 and a 1 year high of $5.95. The stock has a market capitalization of $19.98 million, a price-to-earnings ratio of -0.43 and a beta of 2.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.67 and a current ratio of 4.67. The stock’s fifty day moving average is $0.59 and its two-hundred day moving average is $1.71.

Spruce Biosciences (NASDAQ:SPRB) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.04. The business had revenue of $2.00 million for the quarter, compared to analysts’ expectations of $1.12 million. Spruce Biosciences had a negative net margin of 461.67% and a negative return on equity of 57.53%. On average, research analysts predict that Spruce Biosciences will post -1.24 EPS for the current year.

Institutional Trading of Spruce Biosciences

Institutional investors have recently modified their holdings of the company. AWM Investment Company Inc. acquired a new position in Spruce Biosciences during the first quarter worth about $157,000. Acadian Asset Management LLC acquired a new position in shares of Spruce Biosciences in the 1st quarter worth approximately $289,000. Superstring Capital Management LP bought a new stake in shares of Spruce Biosciences in the 4th quarter worth approximately $348,000. Worth Venture Partners LLC lifted its stake in Spruce Biosciences by 74.4% during the fourth quarter. Worth Venture Partners LLC now owns 526,933 shares of the company’s stock valued at $1,544,000 after purchasing an additional 224,859 shares during the last quarter. Finally, AIGH Capital Management LLC lifted its stake in Spruce Biosciences by 75.4% during the fourth quarter. AIGH Capital Management LLC now owns 2,123,863 shares of the company’s stock valued at $6,223,000 after purchasing an additional 912,863 shares during the last quarter. Institutional investors and hedge funds own 91.71% of the company’s stock.

About Spruce Biosciences

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.