Spruce Biosciences Inc (NASDAQ:SPRB) does about 400.46K shares in volume on a normal day but saw 1582480 shares change hands in the recent trading day. The company now has a market cap of 19.61M USD. Its current market price is $0.47, marking an increase of 7.57% compared to the previous close of $0.44. The 52 week high reached by this stock is $5.95 whilst the lowest price level in 52 weeks is $0.41.
Spruce Biosciences Inc (SPRB) has a 20-day trading average at $0.4520 and the current price is -92.02% off the 52-week high compared with 15.51% distance from its 52-week low. The 50-day simple moving average of the closing price is $0.4685 and its 200-day simple moving average is $1.5410. If we look at the stock’s price movements over the week, volatility stands at 5.19%, which decreases to 5.17% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 55.83 to suggest the stock is neutral.
The consensus objective for the share price is $2.33, suggesting that the stock has a potential upside of 79.83% over the period.
FactSet Research has provided data showing that 5 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 5 analysts have rated it as a buy and 0 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on March 14, 2024 when RBC Capital Mkts downgraded the stock to “Sector Perform” and issued a price target of between $9 and $2. Leerink Partners also downgraded the stock to “Market Perform” from Outperform on March 14, 2024 at a price target of $9-$2.
The current price level is 5.19%, 1.14%, and -69.31% away from its SMA20, SMA50, and SMA200 respectively, with the SPRB price moving below the 50-day SMA on current market day. Spruce Biosciences Inc (SPRB) stock is up 11.48% over the week and 2.24% over the past month. Its price is -83.79% year-to-date and -78.70% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/30/2024, with the company’s earnings per share (EPS) of -0.3 above consensus estimates by 0.05. The company’s next earnings report forecasts estimating quarterly EPS at -0.24 and -0.99 for whole year. Expected sales for next quarter are $1.12M, which analysts say will come at $6.22M for the current fiscal year and next year at $1.73M. In addition, estimates put the company’s current quarterly revenue at an average of $1.49M.
To reach the target analysts have set, the stock logically needs to grow 79.83 percent from here.
Outstanding shares total 41.03M with insiders holding 7.72% of the shares and institutional holders owning 48.64% of the company’s common stock. The company has a return on investment of -70.70% and return on equity of -55.37%. The beta has a value of 2.41. Price to book ratio is 0.33 and price to sales ratio is 2.05.
