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

Spruce Biosciences, Inc. (NASDAQ:SPRB) has been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $203.0833.

Several equities analysts recently issued reports on SPRB shares. Leerink Partnrs raised Spruce Biosciences from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. HC Wainwright restated a “buy” rating and issued a $220.00 price target on shares of Spruce Biosciences in a research report on Monday, December 22nd. Citigroup reaffirmed a “market perform” rating on shares of Spruce Biosciences in a research note on Tuesday, November 11th. Citizens Jmp boosted their price objective on shares of Spruce Biosciences from $254.00 to $259.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 11th. Finally, JMP Securities set a $259.00 target price on shares of Spruce Biosciences in a report on Tuesday, November 11th.

Institutional Trading of Spruce Biosciences

A hedge fund recently bought a new stake in Spruce Biosciences stock. Cable Car Capital LP bought a new position in Spruce Biosciences, Inc. (NASDAQ:SPRB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 26,666 shares of the company’s stock, valued at approximately $239,000. Cable Car Capital LP owned about 5.33% of Spruce Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC). 91.71% of the stock is currently owned by institutional investors.

Spruce Biosciences Trading Up 8.5%

Shares of SPRB opened at $79.99 on Friday. Spruce Biosciences has a twelve month low of $4.28 and a twelve month high of $240.00. The firm has a market capitalization of $85.59 million, a P/E ratio of -0.94 and a beta of 3.57. The firm’s 50-day moving average is $94.03 and its two-hundred day moving average is $57.15.

Spruce Biosciences (NASDAQ:SPRB) last announced its quarterly earnings results on Monday, November 10th. The company reported ($14.58) EPS for the quarter, topping the consensus estimate of ($15.56) by $0.98. Analysts predict that Spruce Biosciences will post -1 EPS for the current 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.