A number of research firms have changed their ratings and price targets for Spruce Biosciences (NASDAQ: SPRB):
- 3/14/2024 – Spruce Biosciences was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating. They now have a $2.00 price target on the stock, down previously from $9.00.
- 3/14/2024 – Spruce Biosciences was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating.
- 3/14/2024 – Spruce Biosciences was downgraded by analysts at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating.
- 3/14/2024 – Spruce Biosciences had its “neutral” rating reaffirmed by analysts at HC Wainwright.
- 3/14/2024 – Spruce Biosciences was downgraded by analysts at Leerink Partnrs from an “outperform” rating to a “market perform” rating.
- 3/14/2024 – Spruce Biosciences was downgraded by analysts at SVB Leerink LLC from an “outperform” rating to a “market perform” rating. They now have a $2.00 price target on the stock, down previously from $9.00.
- 3/14/2024 – Spruce Biosciences had its price target lowered by analysts at JMP Securities from $8.00 to $3.00. They now have a “market outperform” rating on the stock.
- 3/5/2024 – Spruce Biosciences had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $9.00 price target on the stock.
- 2/26/2024 – Spruce Biosciences had its price target raised by analysts at Royal Bank of Canada from $8.00 to $9.00. They now have an “outperform” rating on the stock.
- 2/21/2024 – Spruce Biosciences is now covered by analysts at Guggenheim. They set a “buy” rating and a $10.00 price target on the stock.
Spruce Biosciences Stock Performance
Shares of Spruce Biosciences stock traded up $0.02 during trading on Wednesday, reaching $0.72. The company’s stock had a trading volume of 814,140 shares, compared to its average volume of 1,212,735. The company has a 50-day moving average price of $3.66 and a two-hundred day moving average price of $2.48. The firm has a market cap of $29.59 million, a PE ratio of -0.58 and a beta of 2.68. Spruce Biosciences, Inc. has a fifty-two week low of $0.68 and a fifty-two week high of $5.95. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.02.
Insider Activity at Spruce Biosciences
In related news, major shareholder Holdings A/S Novo sold 842,020 shares of Spruce Biosciences stock in a transaction on Monday, March 18th. The shares were sold at an average price of $0.77, for a total value of $648,355.40. Following the transaction, the insider now directly owns 3,968,000 shares in the company, valued at approximately $3,055,360. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 3,114,315 shares of company stock worth $2,613,101 in the last three months. Insiders own 7.60% of the company’s stock.
Hedge Funds Weigh In On Spruce Biosciences
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.
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