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

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

Separately, Royal Bank of Canada cut 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 report on Wednesday.

Institutional Inflows and Outflows

An institutional investor recently bought a new position 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 its most recent disclosure with the Securities & Exchange Commission. The fund bought 288,800 shares of the company’s stock, valued at approximately $121,000. Boothbay Fund Management LLC owned 0.70% of Spruce Biosciences as of its most recent SEC filing. Institutional investors own 91.71% of the company’s stock.

Spruce Biosciences Price Performance

SPRB traded down $0.01 on Wednesday, hitting $0.12. 3,736,068 shares of the company were exchanged, compared to its average volume of 837,565. The business’s fifty day moving average is $0.34 and its 200 day moving average is $0.42. Spruce Biosciences has a fifty-two week low of $0.12 and a fifty-two week high of $0.87. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.36 and a current ratio of 5.36. The firm has a market capitalization of $5.04 million, a P/E ratio of -0.13 and a beta of 2.39.

Spruce Biosciences (NASDAQ:SPRB) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $0.50 million. As a group, sell-side analysts anticipate that Spruce Biosciences will post -1 EPS 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.