Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB – Get Free Report) have been given an average recommendation of “Hold” by the eight analysts that are currently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $5.00.
A number of equities analysts recently issued reports on SPRB shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $2.00 target price on shares of Spruce Biosciences in a research report on Tuesday, August 13th. HC Wainwright reiterated a “neutral” rating on shares of Spruce Biosciences in a report on Monday, August 19th.
Check Out Our Latest Analysis on SPRB
Spruce Biosciences Stock Performance
Spruce Biosciences (NASDAQ:SPRB – Get Free Report) last announced its earnings results on Monday, August 12th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.10. Spruce Biosciences had a negative return on equity of 59.94% and a negative net margin of 450.38%. The firm had revenue of $1.61 million for the quarter, compared to the consensus estimate of $1.55 million. On average, analysts predict that Spruce Biosciences will post -1.12 earnings per share for the current year.
Hedge Funds Weigh In On Spruce Biosciences
Hedge funds have recently made changes to their positions in the business. Almitas Capital LLC bought a new stake in Spruce Biosciences during the second quarter worth approximately $205,000. Renaissance Technologies LLC boosted its stake in shares of Spruce Biosciences by 35.1% during the 2nd quarter. Renaissance Technologies LLC now owns 366,100 shares of the company’s stock worth $190,000 after acquiring an additional 95,100 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Spruce Biosciences by 270.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,367,997 shares of the company’s stock worth $707,000 after acquiring an additional 999,166 shares during the last quarter. Finally, AWM Investment Company Inc. acquired a new stake in shares of Spruce Biosciences during the first quarter worth $157,000. Institutional investors and hedge funds own 91.71% of the company’s stock.
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.
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