Spruce Biosciences (NASDAQ:SPRB) Rating Increased to Outperform at Citizens Jmp

Citizens Jmp upgraded shares of Spruce Biosciences (NASDAQ:SPRB) from a market perform rating to an outperform rating in a research report released on Tuesday morning, Marketbeat Ratings reports. Citizens Jmp currently has $254.00 target price on the stock.

Several other equities analysts have also issued reports on the company. Leerink Partners set a $160.00 price target on Spruce Biosciences and gave the company a “market perform” rating in a research note on Tuesday, October 21st. JMP Securities set a $254.00 price target on Spruce Biosciences and gave the company a “market outperform” rating in a research note on Tuesday. Citigroup upgraded Spruce Biosciences to an “outperform” rating in a research note on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spruce Biosciences in a research note on Tuesday, October 14th. Finally, Zacks Research lowered Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Spruce Biosciences has a consensus rating of “Hold” and a consensus price target of $176.38.

Spruce Biosciences Price Performance

Spruce Biosciences stock opened at $124.51 on Tuesday. The stock’s fifty day moving average price is $56.87 and its two-hundred day moving average price is $24.77. Spruce Biosciences has a one year low of $4.28 and a one year high of $240.00. The firm has a market cap of $69.73 million, a PE ratio of -1.44 and a beta of 2.47.

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.