Spruce Biosciences (NASDAQ:SPRB) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Spruce Biosciences (NASDAQ:SPRB) in a research report report published on Monday,Benzinga reports. HC Wainwright currently has a $220.00 price objective on the stock.

SPRB has been the subject of a number of other reports. Zacks Research cut Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Spruce Biosciences in a research note on Monday, December 15th. Wall Street Zen upgraded shares of Spruce Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Leerink Partnrs raised shares of Spruce Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. Finally, JMP Securities set a $259.00 price objective on shares of Spruce Biosciences in a report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $187.10.

Spruce Biosciences Price Performance

SPRB stock opened at $82.82 on Monday. The firm has a 50 day simple moving average of $109.07 and a two-hundred day simple moving average of $49.83. The stock has a market cap of $88.62 million, a PE ratio of -0.97 and a beta of 3.46. Spruce Biosciences has a one year low of $4.28 and a one year high of $240.00.

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

Hedge Funds Weigh In On Spruce Biosciences

A hedge fund recently bought a new stake 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. 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.