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

Spruce Biosciences, Inc. (NASDAQ:SPRB) has earned an average rating of “Hold” from the six analysts that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $2.50.

SPRB has been the topic of several analyst reports. Oppenheimer reissued a “market perform” rating on shares of Spruce Biosciences in a research report on Wednesday, December 11th. Guggenheim reiterated a “neutral” rating on shares of Spruce Biosciences in a research report on Thursday, December 12th. JMP Securities restated a “market perform” rating and issued a $3.00 target price on shares of Spruce Biosciences in a report on Wednesday, December 11th. HC Wainwright reiterated a “neutral” rating on shares of Spruce Biosciences in a report on Monday, December 16th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $1.50 price objective (down from $2.00) on shares of Spruce Biosciences in a research report on Wednesday, December 11th.

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 and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC). Institutional investors own 91.71% of the company’s stock.

Spruce Biosciences Trading Down 1.4 %

Shares of NASDAQ SPRB opened at $0.33 on Tuesday. Spruce Biosciences has a 1-year low of $0.32 and a 1-year high of $0.87. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.36 and a quick ratio of 5.36. The business’s 50 day moving average is $0.38 and its two-hundred day moving average is $0.44. The stock has a market capitalization of $13.65 million, a P/E ratio of -0.35 and a beta of 2.34.

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.