Spruce Biosciences (NASDAQ:SPRB) Announces Earnings Results

by · The Cerbat Gem

Spruce Biosciences (NASDAQ:SPRB – Get Free Report) announced its earnings results on Wednesday. The company reported ($8.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($7.93) by ($1.01), Zacks reports.

Spruce Biosciences Stock Performance

Spruce Biosciences stock opened at $57.32 on Thursday. The company has a market capitalization of $78.64 million, a PE ratio of -1.11 and a beta of 3.26. The company has a 50 day moving average price of $61.19 and a 200-day moving average price of $77.87. Spruce Biosciences has a fifty-two week low of $4.35 and a fifty-two week high of $240.00.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SPRB shares. HC Wainwright restated a “buy” rating and set a $200.00 target price on shares of Spruce Biosciences in a research note on Tuesday, March 10th. Citizens Jmp cut their target price on Spruce Biosciences from $180.00 to $170.00 and set a “market outperform” rating for the company in a research report on Tuesday, March 10th. Finally, Craig Hallum initiated coverage on Spruce Biosciences in a report on Monday, April 27th. They issued a “buy” rating and a $140.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.60.

Get Our Latest Report on Spruce Biosciences

Hedge Funds Weigh In On Spruce Biosciences

Large investors have recently bought and sold shares of the business. Cable Car Capital LP purchased a new position in Spruce Biosciences in the third quarter worth $239,000. SkyView Investment Advisors LLC acquired a new stake in Spruce Biosciences in the fourth quarter worth about $261,000. State Street Corp acquired a new position in shares of Spruce Biosciences during the fourth quarter valued at about $558,000. Superstring Capital Management LP purchased a new position in shares of Spruce Biosciences in the 4th quarter valued at approximately $1,057,000. Finally, Geode Capital Management LLC acquired a new stake in Spruce Biosciences in the 4th quarter worth approximately $1,109,000. Institutional investors own 91.71% of the company’s stock.

About Spruce Biosciences

(Get Free Report)

Spruce Biosciences, Inc is a clinical-stage biopharmaceutical company dedicated to developing therapies for rare endocrine and dermatological disorders. Headquartered in San Diego, California, Spruce focuses on conditions with significant unmet medical needs, employing a precision medicine approach to identify and advance treatment candidates through late-stage clinical trials.

The company’s lead asset, tildacerfont, is an oral corticotropin-releasing factor type 1 (CRF1) receptor antagonist being evaluated for the treatment of congenital adrenal hyperplasia (CAH), a genetic disorder characterized by insufficient cortisol production and excess androgen levels.

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