Spruce Biosciences, Inc. (NASDAQ:SPRB) Receives Average Recommendation of “Buy” from Analysts

Spruce Biosciences, Inc. (NASDAQ:SPRB) has been given a consensus rating of “Buy” by the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $32.60.

Separately, HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Spruce Biosciences in a research note on Thursday, August 26th.

A number of institutional investors and hedge funds have recently bought and sold shares of SPRB. Wells Fargo & Company MN grew its stake in Spruce Biosciences by 223.6% during the second quarter. Wells Fargo & Company MN now owns 7,034 shares of the company’s stock valued at $79,000 after acquiring an additional 4,860 shares in the last quarter. New York State Common Retirement Fund grew its stake in Spruce Biosciences by 87.5% during the first quarter. New York State Common Retirement Fund now owns 6,000 shares of the company’s stock valued at $100,000 after acquiring an additional 2,800 shares in the last quarter. California State Teachers Retirement System grew its stake in Spruce Biosciences by 14.0% during the second quarter. California State Teachers Retirement System now owns 12,006 shares of the company’s stock valued at $135,000 after acquiring an additional 1,470 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in Spruce Biosciences during the first quarter valued at $207,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Spruce Biosciences in the 2nd quarter worth $218,000. 85.99% of the stock is owned by institutional investors.

SPRB traded down $0.10 during trading on Friday, hitting $4.80. The company’s stock had a trading volume of 3,011 shares, compared to its average volume of 56,048. The company has a quick ratio of 15.96, a current ratio of 15.95 and a debt-to-equity ratio of 0.04. Spruce Biosciences has a one year low of $4.87 and a one year high of $35.60. The firm has a market cap of $112.21 million and a PE ratio of -0.36. The business’s 50 day simple moving average is $7.09 and its 200-day simple moving average is $11.02.

Spruce Biosciences (NASDAQ:SPRB) last released its quarterly earnings results on Monday, August 9th. The company reported ($0.50) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.05). Equities research analysts expect that Spruce Biosciences will post -2.12 EPS for the current fiscal year.

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).

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Analyst Recommendations for Spruce Biosciences (NASDAQ:SPRB)

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