Spruce Biosciences (NASDAQ:SPRB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Spruce Biosciences (NASDAQ:SPRB) to a sell rating in a research report sent to investors on Saturday.

Other equities analysts also recently issued research reports about the company. Citigroup restated a “market perform” rating on shares of Spruce Biosciences in a research note on Tuesday, November 11th. Citizens Jmp lifted their target price on shares of Spruce Biosciences from $254.00 to $259.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 11th. Zacks Research cut shares of Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. JMP Securities set a $259.00 price objective on shares of Spruce Biosciences in a report on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Spruce Biosciences in a research note on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Spruce Biosciences presently has an average rating of “Hold” and an average price target of $178.88.

Spruce Biosciences Stock Up 2.3%

Shares of NASDAQ:SPRB opened at $108.83 on Friday. The stock has a market cap of $54.42 million, a price-to-earnings ratio of -1.28 and a beta of 3.22. The business’s 50 day moving average is $86.02 and its 200 day moving average is $34.51. Spruce Biosciences has a 12-month low of $4.28 and a 12-month high of $240.00.

Spruce Biosciences (NASDAQ:SPRB) last issued its quarterly earnings results on Monday, November 10th. The company reported ($14.58) EPS for the quarter, topping analysts’ consensus estimates of ($15.56) by $0.98. As a group, equities research analysts expect that Spruce Biosciences will post -1 earnings per share for the current year.

Hedge Funds Weigh In On Spruce Biosciences

A hedge fund recently bought a new stake in Spruce Biosciences stock. Cable Car Capital LP purchased a new stake in shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 26,666 shares of the company’s stock, valued at approximately $239,000. Cable Car Capital LP owned 5.33% of Spruce Biosciences at the end of the most recent reporting period. 91.71% of the stock is owned by institutional investors.

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.