Analysts Set Spruce Biosciences, Inc. (NASDAQ:SPRB) Price Target at $5.00

Spruce Biosciences, Inc. (NASDAQ:SPRB) has been given a consensus recommendation of “Hold” by the eight research firms that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $5.00.

SPRB has been the subject of a number of research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $2.00 price objective on shares of Spruce Biosciences in a research note on Tuesday, August 13th. HC Wainwright restated a “neutral” rating on shares of Spruce Biosciences in a report on Monday, August 19th.

Spruce Biosciences Price Performance

Shares of SPRB stock opened at $0.54 on Wednesday. The company’s 50-day simple moving average is $0.49 and its two-hundred day simple moving average is $0.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.17 and a quick ratio of 5.17. Spruce Biosciences has a one year low of $0.41 and a one year high of $5.95. The company has a market capitalization of $22.13 million, a P/E ratio of -0.53 and a beta of 2.36.

Spruce Biosciences (NASDAQ:SPRB) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.10. Spruce Biosciences had a negative return on equity of 59.94% and a negative net margin of 450.38%. The company had revenue of $1.61 million for the quarter, compared to the consensus estimate of $1.55 million. As a group, equities analysts anticipate that Spruce Biosciences will post -1.12 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. AWM Investment Company Inc. purchased a new stake in Spruce Biosciences in the first quarter valued at about $157,000. Renaissance Technologies LLC raised its position in shares of Spruce Biosciences by 35.1% in the 2nd quarter. Renaissance Technologies LLC now owns 366,100 shares of the company’s stock valued at $190,000 after purchasing an additional 95,100 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Spruce Biosciences in the 1st quarter valued at approximately $289,000. Finally, Almitas Capital LLC acquired a new stake in Spruce Biosciences in the 2nd quarter worth approximately $205,000. 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.