Spruce Biosciences, Inc. (NASDAQ:SPRB) Given Average Recommendation of “Moderate Buy” by Brokerages

Spruce Biosciences, Inc. (NASDAQ:SPRB) has been given a consensus rating of “Moderate Buy” by the nine brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $169.6667.

SPRB has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Spruce Biosciences in a research report on Friday. Citizens Jmp dropped their target price on Spruce Biosciences from $170.00 to $150.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 14th. Craig Hallum began coverage on Spruce Biosciences in a research report on Monday, April 27th. They issued a “buy” rating and a $140.00 target price on the stock. JonesTrading began coverage on Spruce Biosciences in a research report on Tuesday. They issued a “buy” rating and a $135.00 target price on the stock. Finally, Oppenheimer reissued an “outperform” rating on shares of Spruce Biosciences in a research report on Wednesday, May 27th.

Institutional Investors Weigh In On Spruce Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of SPRB. Carlyle Group Inc. acquired a new stake in Spruce Biosciences in the 3rd quarter valued at approximately $24,765,000. Cable Car Capital LP acquired a new stake in Spruce Biosciences in the 3rd quarter valued at approximately $239,000. Geode Capital Management LLC acquired a new stake in Spruce Biosciences in the 4th quarter valued at approximately $1,109,000. State Street Corp acquired a new stake in Spruce Biosciences in the 4th quarter valued at approximately $558,000. Finally, Alyeska Investment Group L.P. acquired a new stake in Spruce Biosciences in the 4th quarter valued at approximately $4,501,000. Institutional investors and hedge funds own 91.71% of the company’s stock.

Spruce Biosciences Trading Down 0.6%

SPRB opened at $49.03 on Wednesday. The stock has a market capitalization of $134.83 million, a P/E ratio of -1.34 and a beta of 3.11. Spruce Biosciences has a 12 month low of $4.35 and a 12 month high of $240.00. The firm’s fifty day simple moving average is $57.45 and its 200 day simple moving average is $69.38. The company has a current ratio of 4.67, a quick ratio of 4.67 and a debt-to-equity ratio of 0.16.

Spruce Biosciences (NASDAQ:SPRB) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($8.94) EPS for the quarter, missing the consensus estimate of ($7.93) by ($1.01). As a group, research analysts anticipate that Spruce Biosciences will post -22.24 EPS for the current fiscal year.

About Spruce Biosciences

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.