Spruce Biosciences, Inc. (NASDAQ:SPRB – Free Report) – Leerink Partnrs increased their FY2023 earnings per share estimates for Spruce Biosciences in a report released on Tuesday, November 14th. Leerink Partnrs analyst J. Schwartz now anticipates that the company will post earnings per share of ($1.43) for the year, up from their prior estimate of ($1.52). The consensus estimate for Spruce Biosciences’ current full-year earnings is ($1.40) per share. Leerink Partnrs also issued estimates for Spruce Biosciences’ Q4 2023 earnings at ($0.41) EPS, Q1 2024 earnings at ($0.42) EPS, Q2 2024 earnings at ($0.42) EPS, Q3 2024 earnings at ($0.42) EPS, Q4 2024 earnings at ($0.43) EPS, FY2024 earnings at ($1.69) EPS and FY2025 earnings at ($1.42) EPS.
SPRB has been the topic of a number of other reports. JMP Securities boosted their target price on shares of Spruce Biosciences from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 16th. SVB Leerink upgraded Spruce Biosciences from a “market perform” rating to an “outperform” rating and raised their target price for the company from $3.00 to $9.00 in a research note on Friday, September 8th. Oppenheimer cut their price target on Spruce Biosciences from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, August 18th. Royal Bank of Canada restated an “outperform” rating and set a $8.00 price objective on shares of Spruce Biosciences in a research note on Wednesday, September 13th. Finally, HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Spruce Biosciences in a report on Wednesday, September 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $7.67.
Spruce Biosciences Stock Performance
Spruce Biosciences stock opened at $1.35 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.46 and a current ratio of 4.59. Spruce Biosciences has a one year low of $0.95 and a one year high of $3.57. The stock’s 50 day moving average price is $1.68 and its 200 day moving average price is $2.05. The firm has a market capitalization of $54.96 million, a PE ratio of -0.91 and a beta of 2.17.
Institutional Trading of Spruce Biosciences
Several institutional investors and hedge funds have recently bought and sold shares of the company. HRT Financial LP acquired a new position in shares of Spruce Biosciences in the 1st quarter worth approximately $29,000. Virtu Financial LLC bought a new stake in Spruce Biosciences during the first quarter valued at $30,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Spruce Biosciences during the second quarter worth $33,000. Privium Fund Management B.V. acquired a new stake in shares of Spruce Biosciences during the second quarter worth $52,000. Finally, Two Sigma Advisers LP bought a new position in shares of Spruce Biosciences in the 1st quarter worth about $83,000. Institutional investors and hedge funds own 78.58% 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.
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