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

Spruce Biosciences, Inc. (NASDAQ:SPRB) has earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $159.50.

A number of equities analysts have weighed in on SPRB shares. HC Wainwright cut their target price on shares of Spruce Biosciences from $200.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, June 1st. JonesTrading began coverage on shares of Spruce Biosciences in a research note on Tuesday, June 9th. They set a “buy” rating and a $135.00 price target on the stock. Wall Street Zen downgraded shares of Spruce Biosciences from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Citigroup reiterated a “market outperform” rating on shares of Spruce Biosciences in a research note on Thursday, August 13th. Finally, Weiss Ratings cut shares of Spruce Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 12th.

Institutional Trading of Spruce Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cable Car Capital LP purchased a new stake in Spruce Biosciences during the 3rd quarter worth about $239,000. Geode Capital Management LLC bought a new position in Spruce Biosciences in the 4th quarter worth about $1,109,000. State Street Corp purchased a new position in Spruce Biosciences during the 4th quarter valued at about $558,000. Alyeska Investment Group L.P. purchased a new position in Spruce Biosciences during the 4th quarter valued at about $4,501,000. Finally, Quinn Opportunity Partners LLC purchased a new position in Spruce Biosciences during the 4th quarter valued at about $1,987,000. 91.71% of the stock is currently owned by institutional investors.

Spruce Biosciences Stock Performance

NASDAQ SPRB traded up $1.68 on Monday, hitting $53.26. 22,174 shares of the stock traded hands, compared to its average volume of 57,260. The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.23 and a current ratio of 9.23. The business’s fifty day moving average is $48.69 and its two-hundred day moving average is $55.87. Spruce Biosciences has a 12 month low of $7.00 and a 12 month high of $240.00. The firm has a market capitalization of $152.84 million, a price-to-earnings ratio of -1.34 and a beta of 3.23.

Spruce Biosciences (NASDAQ:SPRB) last issued its earnings results on Wednesday, August 12th. The company reported ($6.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.79) by ($0.89). As a group, equities analysts anticipate that Spruce Biosciences will post -25.14 EPS for the current fiscal year.

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.