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

Spruce Biosciences, Inc. (NASDAQ:SPRB) has received an average rating of “Hold” from the six research firms that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $2.17.

Separately, Royal Bank of Canada cut their price objective on Spruce Biosciences from $1.50 to $0.50 and set a “sector perform” rating for the company in a report on Wednesday, April 16th.

Spruce Biosciences Stock Performance

Shares of NASDAQ SPRB opened at $0.12 on Wednesday. The firm’s 50-day moving average price is $0.32 and its 200-day moving average price is $0.41. Spruce Biosciences has a 52-week low of $0.11 and a 52-week high of $0.87. The company has a market cap of $5.01 million, a PE ratio of -0.13 and a beta of 2.39. 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 issued its 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 company had revenue of $0.55 million during the quarter, compared to analysts’ expectations of $0.50 million. Spruce Biosciences had a negative return on equity of 62.10% and a negative net margin of 555.23%. As a group, analysts anticipate that Spruce Biosciences will post -1 EPS for the current year.

Hedge Funds Weigh In On 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 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period. Hedge funds and other 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.