Analysts Set Spruce Biosciences, Inc. (NASDAQ:SPRB) Target Price at $1.75

Spruce Biosciences, Inc. (NASDAQ:SPRB) has been given a consensus recommendation of “Hold” by the six ratings firms that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $1.75.

Separately, Royal Bank Of Canada decreased their price target on shares of Spruce Biosciences from $1.50 to $0.50 and set a “sector perform” rating for the company in a research note on Wednesday, April 16th.

Spruce Biosciences Stock Up 2.5%

Shares of NASDAQ SPRB opened at $0.07 on Monday. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.01. Spruce Biosciences has a 12 month low of $0.06 and a 12 month high of $0.61. The firm has a market capitalization of $3.08 million, a PE ratio of -0.08 and a beta of 2.38. The firm has a fifty day simple moving average of $0.07 and a two-hundred day simple moving average of $0.25.

Spruce Biosciences (NASDAQ:SPRB) last issued its quarterly earnings results on Tuesday, April 15th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.37). The business had revenue of $0.55 million during the quarter, compared to the consensus estimate of $0.50 million. Spruce Biosciences had a negative return on equity of 62.10% and a negative net margin of 555.23%. Equities analysts expect that Spruce Biosciences will post -1 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Spruce Biosciences stock. Boothbay Fund Management LLC acquired a new stake in shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 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 filing with the Securities and Exchange Commission. 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.