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

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

Separately, Royal Bank of Canada decreased their target price 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, April 16th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Spruce Biosciences stock. Boothbay Fund Management LLC bought a new position in shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 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. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

Spruce Biosciences Stock Down 7.4%

Shares of SPRB opened at $0.06 on Thursday. Spruce Biosciences has a 52 week low of $0.06 and a 52 week high of $0.73. The firm has a market cap of $2.54 million, a P/E ratio of -0.06 and a beta of 2.38. The firm’s 50-day simple moving average is $0.14 and its 200 day simple moving average is $0.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.36 and a current ratio of 5.36.

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

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.