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

Spruce Biosciences, Inc. (NASDAQ:SPRB) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $186.60.

A number of equities research analysts recently issued reports on SPRB shares. HC Wainwright reissued a “buy” rating and issued a $200.00 price target on shares of Spruce Biosciences in a research note on Tuesday, March 10th. Craig Hallum started coverage on Spruce Biosciences in a report on Monday, April 27th. They issued a “buy” rating and a $140.00 price objective on the stock. Finally, Citizens Jmp reduced their price target on Spruce Biosciences from $170.00 to $150.00 and set a “market outperform” rating on the stock in a report on Thursday, May 14th.

Institutional Trading of Spruce Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cable Car Capital LP acquired a new position in shares of Spruce Biosciences during the third quarter worth about $239,000. SkyView Investment Advisors LLC acquired a new position in shares of Spruce Biosciences during the fourth quarter worth about $261,000. Stempoint Capital LP acquired a new position in shares of Spruce Biosciences during the first quarter worth about $416,000. State Street Corp acquired a new position in shares of Spruce Biosciences during the fourth quarter worth about $558,000. Finally, Superstring Capital Management LP acquired a new position in shares of Spruce Biosciences during the fourth quarter worth about $1,057,000. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

Spruce Biosciences Stock Performance

SPRB stock opened at $51.08 on Friday. The firm has a market cap of $140.47 million, a price-to-earnings ratio of -1.40 and a beta of 3.26. The firm has a 50-day simple moving average of $60.30 and a two-hundred day simple moving average of $74.89. Spruce Biosciences has a one year low of $4.35 and a one year high of $240.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.67 and a current ratio of 4.67.

Spruce Biosciences (NASDAQ:SPRB) last announced 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). On average, equities analysts forecast that Spruce Biosciences will post -31.02 EPS for the current fiscal 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.