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

Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $178.8750.

A number of research firms have commented on SPRB. Zacks Research cut shares of Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Spruce Biosciences in a research note on Monday. Citigroup reissued a “market perform” rating on shares of Spruce Biosciences in a research note on Tuesday, November 11th. Wall Street Zen raised shares of Spruce Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Finally, Citizens Jmp lifted their target price 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.

Spruce Biosciences Stock Performance

Shares of SPRB stock opened at $78.00 on Wednesday. The company has a market capitalization of $83.46 million, a PE ratio of -0.92 and a beta of 3.45. Spruce Biosciences has a 52-week low of $4.28 and a 52-week high of $240.00. The business’s fifty day moving average is $116.15 and its 200 day moving average is $47.46.

Spruce Biosciences (NASDAQ:SPRB) last released its quarterly earnings results on Monday, November 10th. The company reported ($14.58) earnings per share for the quarter, beating the consensus estimate of ($15.56) by $0.98. On average, sell-side analysts forecast that Spruce Biosciences will post -1 EPS for the current fiscal year.

Hedge Funds Weigh In On Spruce Biosciences

An institutional investor recently bought a new position 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 at the end of the most recent reporting period. Hedge funds and other institutional investors own 91.71% of the company’s stock.

About Spruce Biosciences

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.