Spruce Biosciences, Inc. (NASDAQ:SPRB – Get Free Report) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 252,100 shares, an increase of 22.7% from the August 15th total of 205,400 shares. Based on an average daily volume of 427,200 shares, the days-to-cover ratio is presently 0.6 days.
Analysts Set New Price Targets
Several research analysts have recently commented on SPRB shares. Royal Bank of Canada restated a “sector perform” rating and set a $2.00 price target on shares of Spruce Biosciences in a research report on Tuesday, August 13th. Oppenheimer reduced their price objective on Spruce Biosciences from $4.00 to $3.00 and set an “outperform” rating on the stock in a research note on Thursday, June 13th. Finally, HC Wainwright reissued a “neutral” rating on shares of Spruce Biosciences in a report on Monday, August 19th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.00.
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Hedge Funds Weigh In On Spruce Biosciences
Spruce Biosciences Stock Performance
NASDAQ SPRB traded up $0.01 during trading hours on Monday, hitting $0.47. 6,072 shares of the stock were exchanged, compared to its average volume of 741,082. The company has a quick ratio of 5.17, a current ratio of 5.17 and a debt-to-equity ratio of 0.02. The company has a market cap of $19.51 million, a price-to-earnings ratio of -0.41 and a beta of 2.40. Spruce Biosciences has a 12-month low of $0.41 and a 12-month high of $5.95. The stock has a 50-day moving average of $0.49 and a 200 day moving average of $0.95.
Spruce Biosciences (NASDAQ:SPRB – Get Free Report) last issued its earnings results on Monday, August 12th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.10. Spruce Biosciences had a negative net margin of 450.38% and a negative return on equity of 59.94%. The company had revenue of $1.61 million for the quarter, compared to analyst estimates of $1.55 million. As a group, equities research analysts forecast that Spruce Biosciences will post -1.12 earnings per share 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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