Spruce Biosciences, Inc. (NASDAQ:SPRB – Get Free Report) saw a significant decline in short interest in July. As of July 31st, there was short interest totalling 135,000 shares, a decline of 23.6% from the July 15th total of 176,800 shares. Based on an average daily volume of 512,200 shares, the days-to-cover ratio is presently 0.3 days.
Spruce Biosciences Price Performance
Spruce Biosciences stock remained flat at $0.43 during midday trading on Wednesday. The company had a trading volume of 239,562 shares, compared to its average volume of 814,387. The company has a market cap of $17.78 million, a P/E ratio of -0.38 and a beta of 2.41. Spruce Biosciences has a 12-month low of $0.41 and a 12-month high of $5.95. The stock has a fifty day simple moving average of $0.56 and a two-hundred day simple moving average of $1.60. The company has a current ratio of 4.67, a quick ratio of 4.67 and a debt-to-equity ratio of 0.02.
Spruce Biosciences (NASDAQ:SPRB – Get Free Report) last posted its earnings results on Monday, August 12th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.10. The business had revenue of $1.61 million for the quarter, compared to analysts’ expectations of $1.55 million. Spruce Biosciences had a negative net margin of 461.67% and a negative return on equity of 57.53%. On average, analysts expect that Spruce Biosciences will post -1.24 EPS for the current fiscal year.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
Several research firms have recently commented on SPRB. Royal Bank of Canada reiterated a “sector perform” rating and issued a $2.00 price target on shares of Spruce Biosciences in a research report on Tuesday. Oppenheimer reduced their target price on Spruce Biosciences from $4.00 to $3.00 and set an “outperform” rating on the stock in a research report on Thursday, June 13th. Finally, HC Wainwright reissued a “neutral” rating on shares of Spruce Biosciences in a research note on Wednesday, June 5th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Spruce Biosciences currently has a consensus rating of “Hold” and a consensus target price of $5.00.
Check Out Our Latest Research Report on Spruce Biosciences
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), 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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