Spruce Biosciences, Inc. (NASDAQ:SPRB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $203.0833.

SPRB has been the topic of a number of analyst reports. Oppenheimer started coverage on Spruce Biosciences in a report on Tuesday, December 23rd. They set an “outperform” rating and a $283.00 price objective on the stock. Citigroup reiterated a “market perform” rating on shares of Spruce Biosciences in a research report on Tuesday, November 11th. Citizens Jmp lifted their price objective on Spruce Biosciences from $254.00 to $259.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 11th. Wall Street Zen cut Spruce Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, December 27th. Finally, JMP Securities set a $259.00 price target on shares of Spruce Biosciences in a report on Tuesday, November 11th.

Spruce Biosciences Stock Down 1.8%

Shares of Spruce Biosciences stock opened at $73.53 on Friday. The business has a fifty day simple moving average of $90.23 and a 200-day simple moving average of $59.67. The stock has a market cap of $78.68 million, a PE ratio of -0.87 and a beta of 3.57. Spruce Biosciences has a 12 month low of $4.28 and a 12 month high of $240.00.

Spruce Biosciences (NASDAQ:SPRB) last announced its quarterly earnings data on Monday, November 10th. The company reported ($14.58) EPS for the quarter, topping analysts’ consensus estimates of ($15.56) by $0.98. Analysts expect that Spruce Biosciences will post -1 EPS for the current fiscal year.

Institutional Investors Weigh In On Spruce Biosciences

A hedge fund recently bought a new stake in Spruce Biosciences stock. Cable Car Capital LP bought a new position in Spruce Biosciences, Inc. (NASDAQ:SPRB) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 26,666 shares of the company’s stock, valued at approximately $239,000. Cable Car Capital LP owned about 5.33% of Spruce Biosciences at the end of the most recent quarter. 91.71% of the stock is owned by institutional investors and hedge funds.

Spruce Biosciences Company Profile

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.