Brokerages Set Spruce Biosciences, Inc. (NASDAQ:SPRB) PT at $2.38

Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) have been given a consensus rating of “Hold” by the six analysts that are presently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $2.50.

Several research analysts recently issued reports on the company. HC Wainwright reaffirmed a “neutral” rating on shares of Spruce Biosciences in a research report on Monday, December 16th. Oppenheimer reiterated a “market perform” rating on shares of Spruce Biosciences in a report on Wednesday, December 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $1.50 price target (down from $2.00) on shares of Spruce Biosciences in a report on Wednesday, December 11th. Guggenheim reiterated a “neutral” rating on shares of Spruce Biosciences in a report on Thursday, December 12th. Finally, Citizens Jmp lowered Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th.

Institutional Trading of Spruce Biosciences

An institutional investor recently bought a new position in Spruce Biosciences stock. Boothbay Fund Management LLC acquired a new stake in shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 288,800 shares of the company’s stock, valued at approximately $121,000. Boothbay Fund Management LLC owned 0.70% of Spruce Biosciences as of its most recent filing with the SEC. Institutional investors own 91.71% of the company’s stock.

Spruce Biosciences Stock Up 1.6 %

Shares of NASDAQ:SPRB opened at $0.34 on Tuesday. The stock has a market cap of $13.84 million, a price-to-earnings ratio of -0.36 and a beta of 2.34. The company has a quick ratio of 5.36, a current ratio of 5.36 and a debt-to-equity ratio of 0.01. Spruce Biosciences has a 12-month low of $0.32 and a 12-month high of $0.87. The business’s 50 day moving average is $0.38 and its 200 day moving average is $0.44.

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.