Spruce Biosciences, Inc. (NASDAQ:SPRB) Receives Average Recommendation of “Hold” from Analysts

Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) have been assigned an average rating of “Hold” from the nine analysts that are presently covering the firm, Marketbeat.com reports. Nine research analysts have rated the stock with a hold recommendation. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $2.38.

A number of analysts have recently issued reports on the stock. HC Wainwright reissued a “neutral” rating on shares of Spruce Biosciences in a research note on Monday, December 16th. Oppenheimer reissued a “market perform” rating on shares of Spruce Biosciences in a report on Wednesday, December 11th. Citizens Jmp lowered Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Guggenheim reiterated a “neutral” rating on shares of Spruce Biosciences in a research report on Thursday, December 12th. Finally, JMP Securities reissued a “market perform” rating and issued a $3.00 price target on shares of Spruce Biosciences in a report on Wednesday, December 11th.

Institutional Trading of Spruce Biosciences

An institutional investor recently bought a new position in Spruce Biosciences stock. Boothbay Fund Management LLC purchased a new stake in shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 288,800 shares of the company’s stock, valued at approximately $121,000. Boothbay Fund Management LLC owned approximately 0.70% of Spruce Biosciences as of its most recent SEC filing. Institutional investors and hedge funds own 91.71% of the company’s stock.

Spruce Biosciences Trading Up 3.4 %

Spruce Biosciences stock opened at $0.43 on Friday. Spruce Biosciences has a 12-month low of $0.34 and a 12-month high of $5.95. The firm has a market capitalization of $17.56 million, a price-to-earnings ratio of -0.45 and a beta of 2.37. The firm has a 50 day moving average of $0.39 and a 200 day moving average of $0.45. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.01.

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.