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

Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) have been assigned a consensus recommendation of “Hold” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $2.17.

Separately, Royal Bank of Canada reduced their price target on 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.

Spruce Biosciences Stock Performance

Shares of SPRB stock opened at $0.13 on Wednesday. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.01. The company has a market cap of $5.47 million, a PE ratio of -0.14 and a beta of 2.39. The company’s fifty day simple moving average is $0.31 and its 200-day simple moving average is $0.41. Spruce Biosciences has a 52 week low of $0.11 and a 52 week high of $0.87.

Spruce Biosciences (NASDAQ:SPRB) last released its quarterly earnings data on Tuesday, April 15th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $0.50 million. As a group, equities research analysts anticipate that Spruce Biosciences will post -1 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Spruce Biosciences stock. Boothbay Fund Management LLC bought a new stake in Spruce Biosciences, Inc. (NASDAQ:SPRB) during the fourth quarter, according to its most recent disclosure 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 owned by institutional investors and hedge funds.

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.