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

Spruce Biosciences, Inc. (NASDAQ:SPRB) has earned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $163.00.

A number of research firms recently weighed in on SPRB. JonesTrading started coverage on shares of Spruce Biosciences in a research report on Tuesday, June 9th. They issued a “buy” rating and a $135.00 target price for the company. Oppenheimer restated an “outperform” rating on shares of Spruce Biosciences in a report on Wednesday, May 27th. Guggenheim began coverage on Spruce Biosciences in a research report on Tuesday, June 16th. They issued a “buy” rating and a $123.00 target price on the stock. Craig Hallum assumed coverage on Spruce Biosciences in a research report on Monday, April 27th. They set a “buy” rating and a $140.00 price target for the company. Finally, Citizens Jmp decreased their price target on Spruce Biosciences from $170.00 to $150.00 and set a “market outperform” rating for the company in a research note on Thursday, May 14th.

Institutional Trading of Spruce Biosciences

A number of hedge funds have recently made changes to their positions in the business. Stempoint Capital LP acquired a new stake in Spruce Biosciences during the 1st quarter worth approximately $416,000. ADAR1 Capital Management LLC lifted its stake in Spruce Biosciences by 1.0% during the first quarter. ADAR1 Capital Management LLC now owns 58,600 shares of the company’s stock worth $3,830,000 after purchasing an additional 600 shares during the last quarter. SkyView Investment Advisors LLC acquired a new position in Spruce Biosciences during the 4th quarter worth about $261,000. Ikarian Capital LLC lifted its stake in shares of Spruce Biosciences by 810.3% in the fourth quarter. Ikarian Capital LLC now owns 121,356 shares of the company’s stock worth $10,571,000 after acquiring an additional 108,024 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in Spruce Biosciences during the 4th quarter valued at approximately $5,135,000. 91.71% of the stock is owned by institutional investors and hedge funds.

Spruce Biosciences Stock Performance

Spruce Biosciences stock remained flat at $52.51 during mid-day trading on Friday. The company had a trading volume of 68,773 shares, compared to its average volume of 81,679. The firm’s 50 day moving average is $52.77 and its 200-day moving average is $64.19. Spruce Biosciences has a fifty-two week low of $4.97 and a fifty-two week high of $240.00. The firm has a market cap of $144.51 million, a PE ratio of -1.43 and a beta of 3.16. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.67 and a quick ratio of 4.67.

Spruce Biosciences (NASDAQ:SPRB) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($8.94) EPS for the quarter, missing analysts’ consensus estimates of ($7.93) by ($1.01). Sell-side analysts expect that Spruce Biosciences will post -22.24 earnings per share 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.