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

by · The Cerbat Gem

Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB – Get Free Report) have been given a consensus rating of “Moderate Buy” by the ten brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $203.0833.

SPRB has been the topic of several research reports. JMP Securities set a $259.00 price target on shares of Spruce Biosciences in a research report on Tuesday, November 11th. Oppenheimer initiated coverage on shares of Spruce Biosciences in a report on Tuesday, December 23rd. They set an “outperform” rating and a $283.00 target price on the stock. Citigroup reissued a “market perform” rating on shares of Spruce Biosciences in a research report on Tuesday, November 11th. Wall Street Zen lowered Spruce Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, December 27th. Finally, Leerink Partnrs upgraded Spruce Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd.

Get Our Latest Report on Spruce Biosciences

Spruce Biosciences Price Performance

Shares of Spruce Biosciences stock opened at $79.99 on Friday. The stock’s 50 day simple moving average is $94.03 and its 200-day simple moving average is $57.15. The stock has a market cap of $85.59 million, a P/E ratio of -0.94 and a beta of 3.57. Spruce Biosciences has a 1-year low of $4.28 and a 1-year high of $240.00.

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

Institutional Trading of Spruce Biosciences

An institutional investor recently bought a new position in Spruce Biosciences stock. Carlyle Group Inc. bought a new position in shares of Spruce Biosciences, Inc. (NASDAQ:SPRB – Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,896,518 shares of the company’s stock, valued at approximately $24,765,000. Spruce Biosciences accounts for about 0.6% of Carlyle Group Inc.’s holdings, making the stock its 4th largest holding. Carlyle Group Inc. owned approximately 579.30% of Spruce Biosciences at the end of the most recent quarter. 91.71% of the stock is owned by institutional investors.

About Spruce Biosciences

(Get Free Report)

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.

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