Spruce Biosciences, Inc. (NASDAQ:SPRB) Stock Has Average Target Price of $158.33 According to Brokerages

Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB – Get Free Report) have earned an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $158.33.

SPRB has been the subject of a number of research reports. Wall Street Zen cut shares of Spruce Biosciences from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Weiss Ratings lowered shares of Spruce Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 16th. Guggenheim reiterated a “buy” rating and set a $104.00 price objective (down from $123.00) on shares of Spruce Biosciences in a research note on Monday, August 17th. Lake Street Capital started coverage on Spruce Biosciences in a research note on Thursday, September 17th. They set a “buy” rating and a $149.00 price objective for the company. Finally, JonesTrading initiated coverage on Spruce Biosciences in a report on Tuesday, June 9th. They set a “buy” rating and a $135.00 target price for the company.

Read Our Latest Stock Report on SPRB

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SPRB. SkyView Investment Advisors LLC acquired a new stake in Spruce Biosciences during the 2nd quarter worth $162,000. Pale Fire Capital SE acquired a new stake in shares of Spruce Biosciences in the second quarter valued at about $206,000. Stempoint Capital LP purchased a new position in shares of Spruce Biosciences in the first quarter worth about $416,000. Bank of New York Mellon Corp purchased a new position in shares of Spruce Biosciences in the second quarter worth about $366,000. Finally, ADAR1 Capital Management LLC boosted its position in Spruce Biosciences by 1.0% during the first quarter. ADAR1 Capital Management LLC now owns 58,600 shares of the company’s stock worth $3,830,000 after acquiring an additional 600 shares during the last quarter. 91.71% of the stock is owned by institutional investors and hedge funds.

Spruce Biosciences Trading Down 0.8%

Shares of SPRB stock opened at $49.02 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 9.23 and a quick ratio of 9.23. The company has a market cap of $140.69 million, a price-to-earnings ratio of -1.23 and a beta of 3.31. The stock has a 50 day simple moving average of $51.30 and a 200-day simple moving average of $54.54. Spruce Biosciences has a 1-year low of $7.26 and a 1-year high of $240.00.

Spruce Biosciences (NASDAQ:SPRB – Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($6.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($5.79) by ($0.89). On average, equities research analysts expect that Spruce Biosciences will post -25.53 EPS for the current fiscal year.

About Spruce Biosciences

(Get Free Report)

Spruce Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for endocrine disorders. The company’s research has centered on therapies intended to address conditions involving hormone dysregulation and adrenal function.

Its lead investigational product is tildacerfont, an oral, selective corticotropin-releasing factor type 1 (CRF1) receptor antagonist. The therapy is designed to reduce excessive adrenocorticotropic hormone (ACTH) signaling and adrenal androgen production, with development focused primarily on congenital adrenal hyperplasia (CAH), a rare inherited disorder affecting cortisol production.

Featured Stories

Analyst Recommendations for Spruce Biosciences (NASDAQ:SPRB)

Receive News & Ratings for Spruce Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spruce Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.