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

Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) have been assigned a consensus rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating. The average 12 month target price among brokers that have issued a report on the stock in the last year is $2.17.

Separately, Royal Bank of Canada decreased their target price on Spruce Biosciences from $1.50 to $0.50 and set a “sector perform” rating on the stock in a research report on Wednesday.

Institutional Investors Weigh In On Spruce Biosciences

An institutional investor recently bought a new position in Spruce Biosciences stock. Boothbay Fund Management LLC purchased a new stake in Spruce Biosciences, Inc. (NASDAQ:SPRB) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 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 SEC filing. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Spruce Biosciences Stock Performance

Spruce Biosciences stock traded down $0.01 during trading hours on Wednesday, hitting $0.12. 3,736,068 shares of the stock traded hands, compared to its average volume of 837,565. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.36 and a quick ratio of 5.36. Spruce Biosciences has a 1 year low of $0.12 and a 1 year high of $0.87. The stock has a market capitalization of $5.04 million, a price-to-earnings ratio of -0.13 and a beta of 2.39. The firm’s 50 day moving average price is $0.34 and its 200-day moving average price is $0.42.

Spruce Biosciences (NASDAQ:SPRB) last released its quarterly earnings results 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 firm had revenue of $0.55 million for the quarter, compared to analyst estimates of $0.50 million. As a group, equities analysts expect that Spruce Biosciences will post -1 EPS for the current fiscal 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.