Brokerages Set Spruce Biosciences, Inc. (NASDAQ:SPRB) Target Price at $7.67

Spruce Biosciences, Inc. (NASDAQ:SPRBGet Free Report) has earned a consensus recommendation of “Buy” from the six research firms that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $7.67.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Spruce Biosciences in a report on Monday, November 20th.

Get Our Latest Stock Analysis on SPRB

Spruce Biosciences Stock Up 9.7 %

SPRB stock opened at $4.09 on Monday. The firm has a market cap of $166.50 million, a PE ratio of -2.74 and a beta of 2.58. The business has a 50 day moving average of $2.48 and a 200 day moving average of $2.08. Spruce Biosciences has a twelve month low of $1.01 and a twelve month high of $4.10. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.02.

Spruce Biosciences (NASDAQ:SPRBGet Free Report) last released its earnings results on Monday, November 13th. The company reported ($0.30) earnings per share for the quarter, beating 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. On average, research analysts forecast that Spruce Biosciences will post -1.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SPRB. Privium Fund Management B.V. bought a new stake in Spruce Biosciences during the 2nd quarter valued at $52,000. Renaissance Technologies LLC boosted its position in Spruce Biosciences by 35.5% during the 2nd quarter. Renaissance Technologies LLC now owns 151,400 shares of the company’s stock valued at $263,000 after acquiring an additional 39,700 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Spruce Biosciences by 317.7% during the 1st quarter. Bank of New York Mellon Corp now owns 116,501 shares of the company’s stock valued at $234,000 after acquiring an additional 88,608 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Spruce Biosciences by 528,800.0% during the 1st quarter. JPMorgan Chase & Co. now owns 58,179 shares of the company’s stock valued at $129,000 after acquiring an additional 58,168 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Spruce Biosciences by 315.5% during the 2nd quarter. Northern Trust Corp now owns 57,097 shares of the company’s stock valued at $123,000 after acquiring an additional 43,356 shares in the last quarter. Institutional investors own 78.58% of the company’s stock.

About Spruce Biosciences

(Get Free Report

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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Analyst Recommendations for Spruce Biosciences (NASDAQ:SPRB)

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