Analysts Set Spruce Biosciences, Inc. (NASDAQ:SPRB) Price Target at $203.25

Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) have received an average rating of “Hold” from the seven analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $203.25.

Several equities analysts have commented on the stock. HC Wainwright reissued a “buy” rating and issued a $200.00 target price on shares of Spruce Biosciences in a report on Tuesday, March 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Spruce Biosciences in a report on Monday, December 29th. Citizens Jmp decreased their target price on shares of Spruce Biosciences from $180.00 to $170.00 and set a “market outperform” rating on the stock in a report on Tuesday, March 10th. Finally, Wall Street Zen lowered shares of Spruce Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, December 27th.

Spruce Biosciences Stock Up 3.2%

SPRB stock opened at $54.01 on Tuesday. Spruce Biosciences has a 12 month low of $4.28 and a 12 month high of $240.00. The firm has a market cap of $73.99 million, a P/E ratio of -1.04 and a beta of 3.62. The company’s 50-day moving average price is $61.29 and its two-hundred day moving average price is $87.20.

Spruce Biosciences (NASDAQ:SPRB) last released its earnings results on Thursday, March 12th. The company reported ($9.58) EPS for the quarter, missing the consensus estimate of ($9.16) by ($0.42). Equities analysts predict that Spruce Biosciences will post -31.02 EPS for the current year.

Institutional Investors Weigh In On Spruce Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in SPRB. Cable Car Capital LP bought a new stake in shares of Spruce Biosciences during the 3rd quarter valued at approximately $239,000. SkyView Investment Advisors LLC bought a new stake in shares of Spruce Biosciences during the 4th quarter valued at approximately $261,000. State Street Corp bought a new stake in shares of Spruce Biosciences during the 4th quarter valued at approximately $558,000. Superstring Capital Management LP bought a new stake in shares of Spruce Biosciences during the 4th quarter valued at approximately $1,057,000. Finally, Geode Capital Management LLC bought a new stake in shares of Spruce Biosciences during the 4th quarter valued at approximately $1,109,000. 91.71% of the stock is owned by institutional investors.

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.