Spruce Biosciences, Inc. (NASDAQ:SPRB) Receives Average Recommendation of “Hold” from Analysts

Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) have earned a consensus rating of “Hold” from the nine analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $203.0833.

A number of research firms recently commented on SPRB. Citigroup restated a “market perform” rating on shares of Spruce Biosciences in a research report on Tuesday, November 11th. Wall Street Zen cut Spruce Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Spruce Biosciences in a research note on Monday, December 29th. Leerink Partners upgraded shares of Spruce Biosciences from a “market perform” rating to an “outperform” rating and set a $160.00 target price on the stock in a report on Wednesday, December 3rd. Finally, Zacks Research cut shares of Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd.

Spruce Biosciences Stock Performance

Shares of SPRB stock opened at $82.69 on Thursday. Spruce Biosciences has a 52 week low of $4.28 and a 52 week high of $240.00. The stock has a market capitalization of $88.48 million, a PE ratio of -0.97 and a beta of 3.52. The stock’s fifty day moving average is $81.05 and its 200-day moving average is $68.44.

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

Institutional Investors Weigh In On Spruce Biosciences

Institutional investors have recently bought and sold shares of the company. Carlyle Group Inc. acquired a new stake in shares of Spruce Biosciences in the third quarter valued at approximately $24,765,000. Cable Car Capital LP bought a new position in Spruce Biosciences in the third quarter valued at approximately $239,000. Finally, Geode Capital Management LLC acquired a new position in shares of Spruce Biosciences during the 4th quarter worth approximately $1,109,000. Institutional investors own 91.71% of the company’s stock.

About Spruce Biosciences

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.