HC Wainwright reiterated their neutral rating on shares of Spruce Biosciences (NASDAQ:SPRB – Free 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
Spruce Biosciences (NASDAQ:SPRB – Get 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
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.
Read More
- Five stocks we like better than Spruce Biosciences
- Overbought Stocks Explained: Should You Trade Them?
- Semtech Stock Climbs as AI Boom Drives Turnaround Success
- 3 Monster Growth Stocks to Buy Now
- 3 Companies Leading the Way With Aggressive Stock Buybacks
- Asset Allocation: The Key to a Successful Portfolio. Are You Paying Attention to Yours?
- Is It Time to Buy Nuclear Energy Stocks After the Latest Dip?
Receive News & Ratings for Spruce Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spruce Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.