Spruce Biosciences’ (SPRB) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Spruce Biosciences (NASDAQ:SPRB) in a report published on Tuesday,Benzinga reports. They currently have a $2.00 price target on the stock.

Separately, HC Wainwright reiterated a “neutral” rating on shares of Spruce Biosciences in a research report on Monday, August 19th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.00.

Spruce Biosciences Trading Up 1.9 %

Spruce Biosciences stock opened at $0.52 on Tuesday. The company has a current ratio of 5.36, a quick ratio of 5.17 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $0.49 and its two-hundred day simple moving average is $0.56. Spruce Biosciences has a 12 month low of $0.41 and a 12 month high of $5.95. The company has a market capitalization of $21.52 million, a price-to-earnings ratio of -0.55 and a beta of 2.36.

Spruce Biosciences (NASDAQ:SPRB) last posted its quarterly earnings results on Monday, November 11th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.06. Spruce Biosciences had a negative return on equity of 62.10% and a negative net margin of 555.23%. The firm had revenue of $0.60 million during the quarter, compared to analysts’ expectations of $1.80 million. As a group, equities analysts predict that Spruce Biosciences will post -1.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spruce Biosciences

Hedge funds have recently made changes to their positions in the business. AWM Investment Company Inc. bought a new position in shares of Spruce Biosciences in the first quarter worth about $157,000. Renaissance Technologies LLC boosted its stake in Spruce Biosciences by 35.1% during the second quarter. Renaissance Technologies LLC now owns 366,100 shares of the company’s stock valued at $190,000 after buying an additional 95,100 shares during the last quarter. Acadian Asset Management LLC bought a new position in Spruce Biosciences during the first quarter valued at approximately $289,000. Finally, Almitas Capital LLC bought a new position in Spruce Biosciences during the second quarter valued at approximately $205,000. Institutional investors 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.