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

Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) have been assigned an average rating of “Hold” from the eight research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $187.90.

A number of equities analysts have recently commented on the company. Leerink Partners upgraded Spruce Biosciences from a “market perform” rating to an “outperform” rating and set a $160.00 price objective on the stock in a report on Wednesday, December 3rd. Oppenheimer began coverage on Spruce Biosciences in a report on Tuesday, December 23rd. They set an “outperform” rating and a $283.00 target price for the company. Citizens Jmp set a $259.00 price target on shares of Spruce Biosciences in a report on Tuesday, November 11th. Wall Street Zen cut shares of Spruce Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, December 27th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Spruce Biosciences in a research note on Monday, December 29th.

Hedge Funds Weigh In On Spruce Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cable Car Capital LP acquired a new stake in Spruce Biosciences in the 3rd quarter valued at $239,000. SkyView Investment Advisors LLC acquired a new position in shares of Spruce Biosciences during the fourth quarter worth about $261,000. State Street Corp acquired a new position in shares of Spruce Biosciences during the fourth quarter worth about $558,000. Superstring Capital Management LP purchased a new stake in shares of Spruce Biosciences in the fourth quarter worth about $1,057,000. Finally, Geode Capital Management LLC purchased a new stake in shares of Spruce Biosciences in the fourth quarter worth about $1,109,000. Institutional investors and hedge funds own 91.71% of the company’s stock.

Spruce Biosciences Trading Up 3.9%

Shares of Spruce Biosciences stock opened at $55.87 on Monday. The business’s fifty day moving average price is $72.55 and its 200 day moving average price is $75.18. Spruce Biosciences has a twelve month low of $4.28 and a twelve month high of $240.00. The stock has a market capitalization of $59.78 million, a P/E ratio of -0.66 and a beta of 3.62.

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.