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

Spruce Biosciences, Inc. (NASDAQ:SPRB) has been given an average rating of “Hold” by the six research firms that are currently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold rating. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $2.50.

Several brokerages recently weighed in on SPRB. Guggenheim reaffirmed a “neutral” rating on shares of Spruce Biosciences in a report on Thursday, December 12th. JMP Securities reaffirmed a “market perform” rating and issued a $3.00 price objective on shares of Spruce Biosciences in a research note on Wednesday, December 11th. Citizens Jmp downgraded Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. HC Wainwright restated a “neutral” rating on shares of Spruce Biosciences in a research note on Monday, December 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $1.50 price objective (down previously from $2.00) on shares of Spruce Biosciences in a research report on Wednesday, December 11th.

Institutional Trading of Spruce Biosciences

An institutional investor recently bought a new position in Spruce Biosciences stock. Boothbay Fund Management LLC purchased a new position in Spruce Biosciences, Inc. (NASDAQ:SPRB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 288,800 shares of the company’s stock, valued at approximately $121,000. Boothbay Fund Management LLC owned about 0.70% of Spruce Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC). 91.71% of the stock is owned by institutional investors.

Spruce Biosciences Price Performance

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

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.