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

Spruce Biosciences, Inc. (NASDAQ:SPRB) has been given an average rating of “Hold” by the nine brokerages that are currently covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $3.90.

SPRB has been the topic of a number of research reports. JMP Securities reissued a “market perform” rating and issued a $3.00 price objective on shares of Spruce Biosciences in a research note on Wednesday, December 11th. Royal Bank of Canada reissued a “sector perform” rating and issued a $1.50 price objective (down from $2.00) on shares of Spruce Biosciences in a research note on Wednesday, December 11th. Oppenheimer restated a “market perform” rating on shares of Spruce Biosciences in a report on Wednesday, December 11th. Citizens Jmp lowered shares of Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, HC Wainwright restated a “neutral” rating on shares of Spruce Biosciences in a report on Monday, December 16th.

Spruce Biosciences Price Performance

Shares of NASDAQ SPRB opened at $0.41 on Friday. The stock has a market cap of $16.85 million, a price-to-earnings ratio of -0.43 and a beta of 2.37. Spruce Biosciences has a 52 week low of $0.34 and a 52 week high of $5.95. The company’s 50-day moving average price is $0.39 and its 200 day moving average price is $0.45. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.01.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Spruce Biosciences stock. Boothbay Fund Management LLC acquired a new position in shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 288,800 shares of the company’s stock, valued at approximately $121,000. Boothbay Fund Management LLC owned 0.70% of Spruce Biosciences at the end of the most recent reporting period. Institutional investors and hedge funds 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.