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

Wall Street Zen lowered shares of Spruce Biosciences (NASDAQ:SPRB) from a hold rating to a sell rating in a research report report published on Saturday.

A number of other research firms have also commented on SPRB. JMP Securities set a $259.00 price target on Spruce Biosciences in a research report on Tuesday, November 11th. HC Wainwright reiterated a “buy” rating and issued a $220.00 target price on shares of Spruce Biosciences in a report on Monday, December 22nd. Leerink Partnrs raised shares of Spruce Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. Leerink Partners raised shares of Spruce Biosciences from a “market perform” rating to an “outperform” rating and set a $160.00 price objective for the company in a research report on Wednesday, December 3rd. Finally, Zacks Research lowered shares of Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $203.08.

Spruce Biosciences Price Performance

SPRB opened at $82.30 on Friday. Spruce Biosciences has a fifty-two week low of $4.28 and a fifty-two week high of $240.00. The firm has a market capitalization of $88.06 million, a PE ratio of -0.97 and a beta of 3.46. The company’s 50-day moving average is $101.51 and its 200 day moving average is $52.63.

Spruce Biosciences (NASDAQ:SPRB) last issued its quarterly earnings data on Monday, November 10th. The company reported ($14.58) EPS for the quarter, topping analysts’ consensus estimates of ($15.56) by $0.98. As a group, analysts expect that Spruce Biosciences will post -1 EPS for the current year.

Institutional Investors Weigh In On Spruce Biosciences

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

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.