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

Spruce Biosciences, Inc. (NASDAQ:SPRB) has received a consensus recommendation of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold rating. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $3.90.

Several equities analysts have weighed in on the stock. Oppenheimer reiterated a “market perform” rating on shares of Spruce Biosciences in a research report on Wednesday, December 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $1.50 price target (down from $2.00) on shares of Spruce Biosciences in a research report on Wednesday, December 11th. Citizens Jmp lowered Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Guggenheim reiterated a “neutral” rating on shares of Spruce Biosciences in a report on Thursday, December 12th. Finally, HC Wainwright restated a “neutral” rating on shares of Spruce Biosciences in a report on Monday, December 16th.

Spruce Biosciences Trading Down 0.4 %

Shares of NASDAQ SPRB opened at $0.38 on Monday. The business has a fifty day simple moving average of $0.43 and a 200-day simple moving average of $0.47. The company has a market cap of $15.77 million, a price-to-earnings ratio of -0.41 and a beta of 2.38. Spruce Biosciences has a 12 month low of $0.34 and a 12 month high of $5.95. The company has a quick ratio of 5.36, a current ratio of 5.36 and a debt-to-equity ratio of 0.01.

Spruce Biosciences (NASDAQ:SPRB) last announced its earnings results on Monday, November 11th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.06. Spruce Biosciences had a negative net margin of 555.23% and a negative return on equity of 62.10%. The company had revenue of $0.60 million during the quarter, compared to analysts’ expectations of $1.80 million. Sell-side analysts predict that Spruce Biosciences will post -1 EPS for the current year.

Institutional Investors Weigh In On Spruce Biosciences

An institutional investor recently raised its position in Spruce Biosciences stock. Renaissance Technologies LLC raised its holdings in Spruce Biosciences, Inc. (NASDAQ:SPRB) by 35.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 366,100 shares of the company’s stock after acquiring an additional 95,100 shares during the quarter. Renaissance Technologies LLC owned about 0.89% of Spruce Biosciences worth $190,000 at the end of the most recent quarter. Institutional investors own 91.71% 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.