Spruce Biosciences (NASDAQ:SPRB) Upgraded to “Sell” at Wall Street Zen

Spruce Biosciences (NASDAQ:SPRB) was upgraded by Wall Street Zen to a “sell” rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued research reports about the stock. JMP Securities set a $259.00 price objective on shares of Spruce Biosciences in a research note on Tuesday. Citigroup reaffirmed a “market perform” rating on shares of Spruce Biosciences in a report on Tuesday. Citizens Jmp raised their price objective on Spruce Biosciences from $254.00 to $259.00 and gave the stock a “market outperform” rating in a research report on Tuesday. Leerink Partners set a $160.00 price objective on Spruce Biosciences and gave the company a “market perform” rating in a research report on Tuesday, October 21st. Finally, Zacks Research lowered Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Spruce Biosciences presently has an average rating of “Hold” and a consensus target price of $178.88.

Spruce Biosciences Price Performance

Shares of SPRB opened at $106.35 on Friday. The company has a market capitalization of $53.18 million, a PE ratio of -1.25 and a beta of 3.28. Spruce Biosciences has a one year low of $4.28 and a one year high of $240.00. The company’s fifty day moving average price is $84.03 and its 200 day moving average price is $33.49.

Spruce Biosciences (NASDAQ:SPRB) last posted 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. Analysts anticipate that Spruce Biosciences will post -1 earnings per share for the current year.

Institutional Investors 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 shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 26,666 shares of the company’s stock, valued at approximately $239,000. Cable Car Capital LP owned approximately 5.33% of Spruce Biosciences at the end of the most recent quarter. 91.71% of the stock is owned by institutional investors and hedge funds.

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.