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

HC Wainwright reiterated their neutral rating on shares of Spruce Biosciences (NASDAQ:SPRBFree Report) in a report published on Monday morning,Benzinga reports.

Several other equities research analysts also recently commented on SPRB. Citizens Jmp downgraded shares of Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $1.50 price target (down previously from $2.00) on shares of Spruce Biosciences in a research report on Wednesday, December 11th. Oppenheimer reissued a “market perform” rating on shares of Spruce Biosciences in a report on Wednesday, December 11th. JMP Securities reaffirmed a “market perform” rating and set a $3.00 target price on shares of Spruce Biosciences in a report on Wednesday, December 11th. Finally, Guggenheim restated a “neutral” rating on shares of Spruce Biosciences in a research note on Thursday, December 12th. Nine research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $3.90.

View Our Latest Stock Analysis on SPRB

Spruce Biosciences Price Performance

Shares of SPRB opened at $0.39 on Monday. The stock has a market capitalization of $16.05 million, a PE ratio of -0.41 and a beta of 2.34. The company has a 50 day moving average price of $0.51 and a 200-day moving average price of $0.52. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.36 and a current ratio of 5.36. Spruce Biosciences has a fifty-two week low of $0.37 and a fifty-two week high of $5.95.

Spruce Biosciences (NASDAQ:SPRBGet Free Report) last issued its quarterly earnings data on Monday, November 11th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.06. The firm had revenue of $0.60 million for the quarter, compared to the consensus estimate of $1.80 million. Spruce Biosciences had a negative net margin of 555.23% and a negative return on equity of 62.10%. Equities analysts predict that Spruce Biosciences will post -1.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spruce Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC boosted its position in Spruce Biosciences by 35.1% during the second quarter. Renaissance Technologies LLC now owns 366,100 shares of the company’s stock worth $190,000 after purchasing an additional 95,100 shares in the last quarter. Almitas Capital LLC purchased a new position in shares of Spruce Biosciences during the 2nd quarter valued at approximately $205,000. Finally, Acadian Asset Management LLC grew its stake in Spruce Biosciences by 270.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,367,997 shares of the company’s stock valued at $707,000 after acquiring an additional 999,166 shares during the period. Hedge funds and other institutional investors own 91.71% of the company’s stock.

About Spruce Biosciences

(Get Free Report)

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.

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Analyst Recommendations for Spruce Biosciences (NASDAQ:SPRB)

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