Spruce Biosciences’ (SPRB) “Market Outperform” Rating Reiterated at Citizens Jmp

Citizens Jmp reissued their market outperform rating on shares of Spruce Biosciences (NASDAQ:SPRB) in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a $144.00 price target on the stock.

SPRB has been the topic of a number of other research reports. Citigroup reissued a “market outperform” rating on shares of Spruce Biosciences in a research report on Friday, September 18th. B. Riley Financial began coverage on Spruce Biosciences in a research report on Monday, July 13th. They set a “buy” rating and a $160.00 price target for the company. Wall Street Zen downgraded Spruce Biosciences from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Oppenheimer reissued an “outperform” rating on shares of Spruce Biosciences in a research note on Wednesday, May 27th. Finally, Weiss Ratings lowered Spruce Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 16th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.33.

Spruce Biosciences Price Performance

Shares of SPRB opened at $48.72 on Thursday. The firm has a 50-day simple moving average of $51.40 and a two-hundred day simple moving average of $54.50. The stock has a market cap of $139.83 million, a PE ratio of -1.22 and a beta of 3.31. Spruce Biosciences has a 1-year low of $7.26 and a 1-year high of $240.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 9.23 and a quick ratio of 9.23.

Spruce Biosciences (NASDAQ:SPRB) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($6.68) EPS for the quarter, missing the consensus estimate of ($5.79) by ($0.89). As a group, analysts forecast that Spruce Biosciences will post -25.53 EPS for the current year.

Hedge Funds Weigh In On Spruce Biosciences

Several large investors have recently bought and sold shares of the stock. AWM Investment Company Inc. purchased a new position in shares of Spruce Biosciences during the second quarter worth about $7,937,000. Bank of New York Mellon Corp purchased a new stake in shares of Spruce Biosciences in the 2nd quarter valued at about $366,000. Stempoint Capital LP purchased a new stake in shares of Spruce Biosciences in the 1st quarter valued at about $416,000. Pale Fire Capital SE acquired a new stake in shares of Spruce Biosciences in the 2nd quarter valued at about $206,000. Finally, SkyView Investment Advisors LLC acquired a new stake in shares of Spruce Biosciences in the 2nd quarter valued at about $162,000. Institutional investors and hedge funds own 91.71% of the company’s stock.

About Spruce Biosciences

Spruce Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for endocrine disorders. The company’s research has centered on therapies intended to address conditions involving hormone dysregulation and adrenal function.

Its lead investigational product is tildacerfont, an oral, selective corticotropin-releasing factor type 1 (CRF1) receptor antagonist. The therapy is designed to reduce excessive adrenocorticotropic hormone (ACTH) signaling and adrenal androgen production, with development focused primarily on congenital adrenal hyperplasia (CAH), a rare inherited disorder affecting cortisol production.