Spruce Biosciences, Inc. (NASDAQ:SPRB) Receives $5.00 Consensus Target Price from Analysts

Spruce Biosciences, Inc. (NASDAQ:SPRB) has been assigned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $5.00.

A number of research analysts have recently commented on the company. Oppenheimer dropped their price target on Spruce Biosciences from $4.00 to $3.00 and set an “outperform” rating for the company in a research note on Thursday, June 13th. HC Wainwright restated a “neutral” rating on shares of Spruce Biosciences in a research note on Wednesday, June 5th.

Hedge Funds Weigh In On Spruce Biosciences

Several large investors have recently added to or reduced their stakes in the business. AWM Investment Company Inc. bought a new position in shares of Spruce Biosciences during the 1st quarter worth approximately $157,000. Acadian Asset Management LLC purchased a new position in Spruce Biosciences in the 1st quarter valued at approximately $289,000. Superstring Capital Management LP purchased a new position in shares of Spruce Biosciences during the 4th quarter valued at $348,000. Worth Venture Partners LLC grew its position in shares of Spruce Biosciences by 74.4% during the 4th quarter. Worth Venture Partners LLC now owns 526,933 shares of the company’s stock valued at $1,544,000 after purchasing an additional 224,859 shares in the last quarter. Finally, AIGH Capital Management LLC grew its position in shares of Spruce Biosciences by 75.4% during the 4th quarter. AIGH Capital Management LLC now owns 2,123,863 shares of the company’s stock valued at $6,223,000 after purchasing an additional 912,863 shares in the last quarter. Institutional investors own 91.71% of the company’s stock.

Spruce Biosciences Price Performance

Spruce Biosciences stock opened at $0.49 on Monday. Spruce Biosciences has a 12 month low of $0.48 and a 12 month high of $5.95. The stock’s 50 day moving average is $0.59 and its 200-day moving average is $1.72. The company has a current ratio of 4.67, a quick ratio of 4.67 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $19.98 million, a price-to-earnings ratio of -0.43 and a beta of 2.41.

Spruce Biosciences (NASDAQ:SPRB) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.04. Spruce Biosciences had a negative return on equity of 57.53% and a negative net margin of 461.67%. The business had revenue of $2.00 million during the quarter, compared to analysts’ expectations of $1.12 million. Equities research analysts expect that Spruce Biosciences will post -1.24 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.