Spruce Biosciences, Inc. (NASDAQ:SPRB) Receives $7.40 Average Price Target from Analysts

Posted by on Sep 11th, 2023

Spruce Biosciences, Inc. (NASDAQ:SPRB – Get Free Report) has received an average rating of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have covered the stock in the last year is $7.67.

A number of research firms recently commented on SPRB. Oppenheimer lowered their price objective on shares of Spruce Biosciences from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, August 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $8.00 price objective on shares of Spruce Biosciences in a research note on Tuesday, August 15th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of Spruce Biosciences in a research note on Friday, August 18th. SVB Leerink upgraded shares of Spruce Biosciences from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $3.00 to $9.00 in a research report on Friday. Finally, JMP Securities upped their price target on shares of Spruce Biosciences from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Wednesday, August 16th.

Check Out Our Latest Stock Analysis on SPRB

Institutional Trading of Spruce Biosciences

A number of institutional investors have recently added to or reduced their stakes in SPRB. HRT Financial LP acquired a new stake in Spruce Biosciences in the 1st quarter worth approximately $29,000. Virtu Financial LLC bought a new stake in shares of Spruce Biosciences during the 1st quarter worth $30,000. Charles Schwab Investment Management Inc. acquired a new position in Spruce Biosciences in the 2nd quarter valued at $33,000. Privium Fund Management B.V. bought a new position in Spruce Biosciences in the 2nd quarter worth $52,000. Finally, Two Sigma Advisers LP acquired a new position in Spruce Biosciences during the 1st quarter worth $83,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Spruce Biosciences Stock Performance

Shares of NASDAQ SPRB opened at $2.23 on Friday. Spruce Biosciences has a 12-month low of $0.95 and a 12-month high of $3.57. The company has a market cap of $90.79 million, a price-to-earnings ratio of -1.34 and a beta of 2.13. The company has a current ratio of 5.46, a quick ratio of 5.46 and a debt-to-equity ratio of 0.03. The stock’s 50 day simple moving average is $2.21 and its 200 day simple moving average is $2.24.

Spruce Biosciences (NASDAQ:SPRB – Get Free Report) last issued its quarterly earnings data on Monday, August 14th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.05. The firm had revenue of $2.17 million during the quarter, compared to the consensus estimate of $2.45 million. Equities research analysts expect that Spruce Biosciences will post -1.41 EPS for the current year.

About Spruce Biosciences

(Get Free Report

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.

Featured Stories

Analyst Recommendations for Spruce Biosciences (NASDAQ:SPRB)

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.