Spruce Biosciences (NASDAQ:SPRB) Earns “Neutral” Rating from HC Wainwright

HC Wainwright reissued their neutral rating on shares of Spruce Biosciences (NASDAQ:SPRB) in a report issued on Monday, Benzinga reports. HC Wainwright also issued estimates for Spruce Biosciences’ Q3 2024 earnings at ($0.24) EPS, Q4 2024 earnings at ($0.27) EPS, FY2024 earnings at ($1.02) EPS, Q1 2025 earnings at ($0.27) EPS, Q3 2025 earnings at ($0.22) EPS, Q4 2025 earnings at ($0.26) EPS and FY2025 earnings at ($1.02) EPS.

Several other research firms have also weighed in on SPRB. Oppenheimer dropped their price target on Spruce Biosciences from $4.00 to $3.00 and set an outperform rating on the stock in a research report on Thursday, June 13th. Royal Bank of Canada restated a sector perform rating and set a $2.00 target price on shares of Spruce Biosciences in a report on Tuesday, August 13th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Spruce Biosciences presently has a consensus rating of Hold and an average price target of $5.00.

Spruce Biosciences Trading Up 3.3 %

NASDAQ:SPRB opened at $0.48 on Monday. Spruce Biosciences has a 12 month low of $0.41 and a 12 month high of $5.95. The company has a current ratio of 5.17, a quick ratio of 5.17 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average price of $0.53 and a 200-day moving average price of $1.48. The stock has a market cap of $19.75 million, a price-to-earnings ratio of -0.42 and a beta of 2.41.

Spruce Biosciences (NASDAQ:SPRB) last issued 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 net margin of 450.38% and a negative return on equity of 59.94%. The business had revenue of $1.61 million during the quarter, compared to analyst estimates of $1.55 million. Equities analysts predict that Spruce Biosciences will post -1.24 EPS for the current year.

Institutional Investors Weigh In On Spruce Biosciences

Several hedge funds have recently added to or reduced their stakes in SPRB. AIGH Capital Management LLC increased its holdings in shares of Spruce Biosciences by 75.4% during the fourth quarter. AIGH Capital Management LLC now owns 2,123,863 shares of the company’s stock valued at $6,223,000 after acquiring an additional 912,863 shares in the last quarter. Acadian Asset Management LLC grew its position in Spruce Biosciences by 270.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,367,997 shares of the company’s stock valued at $707,000 after purchasing an additional 999,166 shares during the last quarter. Worth Venture Partners LLC increased its stake in 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. Almitas Capital LLC purchased a new position in Spruce Biosciences in the second quarter worth about $205,000. Finally, Renaissance Technologies LLC raised its holdings in Spruce Biosciences by 35.1% in the second quarter. Renaissance Technologies LLC now owns 366,100 shares of the company’s stock worth $190,000 after buying an additional 95,100 shares during the last quarter. 91.71% of the stock is owned by institutional investors.

Spruce Biosciences Company Profile

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.