Spruce Biosciences, Inc. (NASDAQ:SPRB) Short Interest Down 44.6% in January

Spruce Biosciences, Inc. (NASDAQ:SPRB) saw a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 246,600 shares, a drop of 44.6% from the January 15th total of 444,900 shares. Based on an average daily volume of 574,600 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Oppenheimer restated a “market perform” rating on shares of Spruce Biosciences in a report on Wednesday, December 11th. Royal Bank of Canada restated a “sector perform” rating and issued a $1.50 price target (down from $2.00) on shares of Spruce Biosciences in a research report on Wednesday, December 11th. HC Wainwright reiterated a “neutral” rating on shares of Spruce Biosciences in a report on Monday, December 16th. Citizens Jmp lowered Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, JMP Securities reiterated a “market perform” rating and issued a $3.00 price target on shares of Spruce Biosciences in a research report on Wednesday, December 11th. Nine investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.90.

Spruce Biosciences Stock Down 0.6 %

Shares of NASDAQ SPRB traded down $0.00 during mid-day trading on Thursday, reaching $0.41. 15,445 shares of the company’s stock were exchanged, compared to its average volume of 473,136. The firm has a market capitalization of $16.85 million, a price-to-earnings ratio of -0.43 and a beta of 2.37. Spruce Biosciences has a twelve month low of $0.34 and a twelve month high of $5.95. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $0.40 and a 200 day simple moving average of $0.46.

Spruce Biosciences (NASDAQ:SPRB) last posted its earnings results on Monday, November 11th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.06. Spruce Biosciences had a negative return on equity of 62.10% and a negative net margin of 555.23%. The company had revenue of $0.60 million during the quarter, compared to the consensus estimate of $1.80 million. As a group, equities analysts expect that Spruce Biosciences will post -1 EPS for the current fiscal 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.