Spruce Biosciences, Inc. (NASDAQ:SPRB – Get Free Report) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 176,800 shares, a drop of 28.7% from the June 30th total of 248,100 shares. Based on an average trading volume of 502,500 shares, the short-interest ratio is presently 0.4 days.
Analysts Set New Price Targets
A number of research firms have weighed in on SPRB. HC Wainwright reiterated a “neutral” rating on shares of Spruce Biosciences in a research report on Wednesday, June 5th. Oppenheimer dropped their target price on shares of Spruce Biosciences from $4.00 to $3.00 and set an “outperform” rating for the company in a report on Thursday, June 13th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.00.
Check Out Our Latest Stock Report on Spruce Biosciences
Hedge Funds Weigh In On Spruce Biosciences
Spruce Biosciences Stock Performance
SPRB remained flat at $0.55 during trading on Friday. 117,589 shares of the company traded hands, compared to its average volume of 411,268. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.67 and a current ratio of 4.67. The company has a market cap of $22.47 million, a P/E ratio of -0.48 and a beta of 2.41. The stock has a 50-day moving average price of $0.62 and a 200-day moving average price of $1.79. Spruce Biosciences has a 52 week low of $0.50 and a 52 week high of $5.95.
Spruce Biosciences (NASDAQ:SPRB – Get Free Report) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.04. Spruce Biosciences had a negative return on equity of 57.53% and a negative net margin of 461.67%. The firm had revenue of $2.00 million during the quarter, compared to analyst estimates of $1.12 million. Equities analysts expect that Spruce Biosciences will post -1.24 EPS for the current year.
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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