Spruce Biosciences, Inc. (NASDAQ:SPRB – Get Free Report) has been given an average recommendation of “Buy” by the six analysts that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $7.67.
Separately, HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Spruce Biosciences in a research report on Monday, November 20th.
Spruce Biosciences Trading Down 5.5 %
Spruce Biosciences (NASDAQ:SPRB – Get Free Report) last posted its earnings results on Monday, November 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.04. The company had revenue of $3.07 million for the quarter, compared to analysts’ expectations of $2.25 million. As a group, analysts expect that Spruce Biosciences will post -1.4 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in SPRB. Armistice Capital LLC bought a new position in Spruce Biosciences in the first quarter valued at $8,681,000. Alyeska Investment Group L.P. bought a new position in Spruce Biosciences in the first quarter valued at $2,210,000. CVI Holdings LLC bought a new position in Spruce Biosciences in the first quarter valued at $1,043,000. Millennium Management LLC bought a new position in Spruce Biosciences in the second quarter valued at $331,000. Finally, Two Sigma Investments LP bought a new position in Spruce Biosciences in the first quarter valued at $361,000. Institutional investors own 78.58% 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.
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