Spruce Biosciences (NASDAQ:SPRB) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Spruce Biosciences (NASDAQ:SPRB) to a sell rating in a research note published on Saturday morning.

SPRB has been the topic of a number of other reports. Zacks Research cut Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. Leerink Partners set a $160.00 target price on Spruce Biosciences and gave the stock a “market perform” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Spruce Biosciences in a research report on Tuesday. Citizens Jmp boosted their price target on shares of Spruce Biosciences from $254.00 to $259.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 11th. Finally, Citigroup restated a “market perform” rating on shares of Spruce Biosciences in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Spruce Biosciences presently has a consensus rating of “Hold” and an average price target of $178.88.

Spruce Biosciences Price Performance

NASDAQ SPRB opened at $106.35 on Friday. The stock has a market capitalization of $53.18 million, a P/E ratio of -1.25 and a beta of 3.28. The firm’s 50-day moving average is $84.03 and its two-hundred day moving average is $33.65. Spruce Biosciences has a 12 month low of $4.28 and a 12 month high of $240.00.

Spruce Biosciences (NASDAQ:SPRB) last released its quarterly earnings results 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, analysts anticipate that Spruce Biosciences will post -1 EPS for the current year.

Hedge Funds Weigh In On Spruce Biosciences

An institutional investor recently bought a new position in Spruce Biosciences stock. Cable Car Capital LP acquired a new position in shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 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 & Exchange Commission. Institutional investors own 91.71% of the company’s stock.

Spruce Biosciences Company Profile

Spruce Biosciences, Inc, a biopharmaceutical company, focuses on developing and commercializing novel therapies for rare endocrine disorders. The company engages in developing tildacerfont, a non-steroidal therapy to enhance disease control and reduce steroid burden for patients suffering from congenital adrenal hyperplasia (CAH), which is in Phase 2b clinical trial; and to evaluate glucocorticoid reduction in adult patients with classic CAH that is Phase 2b clinical trial.