Spruce Biosciences, Inc. (NASDAQ:SPRB) Receives $2.17 Consensus Target Price from Analysts

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

Separately, Royal Bank of Canada lowered their price target on shares of Spruce Biosciences from $1.50 to $0.50 and set a “sector perform” rating on the stock in a research report on Wednesday.

Institutional Trading of Spruce Biosciences

An institutional investor recently bought a new position in Spruce Biosciences stock. Boothbay Fund Management LLC acquired a new position in shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 SEC filing. Institutional investors and hedge funds own 91.71% of the company’s stock.

Spruce Biosciences Trading Down 3.5 %

Shares of Spruce Biosciences stock opened at $0.12 on Wednesday. Spruce Biosciences has a 1 year low of $0.11 and a 1 year high of $0.87. The company has a market capitalization of $4.90 million, a price-to-earnings ratio of -0.13 and a beta of 2.39. The business has a fifty day simple moving average of $0.32 and a two-hundred day simple moving average of $0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.36 and a quick ratio of 5.36.

Spruce Biosciences (NASDAQ:SPRB) last announced its earnings results on Tuesday, April 15th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.37). The company had revenue of $0.55 million for 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%. Research analysts forecast that Spruce Biosciences will post -1 EPS for the current year.

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.