Spruce Biosciences, Inc. (NASDAQ:SPRB) Given Average Recommendation of “Hold” by Brokerages

Spruce Biosciences, Inc. (NASDAQ:SPRB) has been assigned a consensus recommendation of “Hold” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $176.3750.

Several brokerages have issued reports on SPRB. Zacks Research lowered Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. JMP Securities set a $254.00 target price on Spruce Biosciences and gave the company a “market outperform” rating in a research note on Tuesday, October 28th. Citizens Jmp raised Spruce Biosciences from a “market perform” rating to an “outperform” rating and set a $254.00 target price for the company in a research note on Tuesday, October 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Spruce Biosciences in a research note on Tuesday, October 14th. Finally, Leerink Partners set a $160.00 target price on Spruce Biosciences and gave the company a “market perform” rating in a research note on Tuesday, October 21st.

Spruce Biosciences Stock Performance

NASDAQ:SPRB opened at $104.75 on Tuesday. The firm has a market capitalization of $52.38 million, a price-to-earnings ratio of -1.22 and a beta of 3.22. Spruce Biosciences has a 52-week low of $4.28 and a 52-week high of $240.00. The stock has a fifty day moving average of $65.00 and a 200 day moving average of $27.29.

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.