Spruce Biosciences, Inc. (NASDAQ:SPRB) Given Consensus Rating of “Hold” by Analysts

Spruce Biosciences, Inc. (NASDAQ:SPRB) has been assigned a consensus rating of “Hold” from the seven analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $203.25.

SPRB has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and set a $200.00 price target on shares of Spruce Biosciences in a report on Tuesday, March 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Spruce Biosciences in a report on Monday, December 29th. Citizens Jmp dropped their price objective on shares of Spruce Biosciences from $180.00 to $170.00 and set a “market outperform” rating for the company in a report on Tuesday, March 10th. Oppenheimer started coverage on shares of Spruce Biosciences in a report on Tuesday, December 23rd. They issued an “outperform” rating and a $283.00 price target for the company. Finally, Wall Street Zen cut shares of Spruce Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, December 27th.

Institutional Trading of Spruce Biosciences

Several institutional investors and hedge funds have recently modified their holdings of SPRB. SkyView Investment Advisors LLC bought a new position in Spruce Biosciences in the fourth quarter worth approximately $261,000. Ikarian Capital LLC increased its stake in shares of Spruce Biosciences by 810.3% during the fourth quarter. Ikarian Capital LLC now owns 121,356 shares of the company’s stock valued at $10,571,000 after buying an additional 108,024 shares during the period. Wellington Management Group LLP purchased a new position in shares of Spruce Biosciences during the fourth quarter valued at $5,135,000. Squadron Capital Management LLC bought a new stake in shares of Spruce Biosciences in the fourth quarter valued at about $6,098,000. Finally, Superstring Capital Management LP purchased a new stake in Spruce Biosciences in the fourth quarter worth about $1,057,000. Institutional investors own 91.71% of the company’s stock.

Spruce Biosciences Stock Down 0.6%

NASDAQ SPRB opened at $69.89 on Tuesday. Spruce Biosciences has a 52 week low of $4.28 and a 52 week high of $240.00. The company has a market capitalization of $95.75 million, a P/E ratio of -1.35 and a beta of 3.62. The stock’s 50-day moving average price is $63.11 and its 200-day moving average price is $87.37.

Spruce Biosciences (NASDAQ:SPRB) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($9.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($9.16) by ($0.42). Research analysts anticipate that Spruce Biosciences will post -31.02 EPS for the current year.

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.