Spruce Biosciences, Inc. (NASDAQ:SPRB) Receives $3.90 Average Price Target from Brokerages

Spruce Biosciences, Inc. (NASDAQ:SPRB) has received an average recommendation of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold rating. The average 1-year price target among brokers that have covered the stock in the last year is $2.38.

Several equities analysts have recently weighed in on SPRB shares. Guggenheim restated a “neutral” rating on shares of Spruce Biosciences in a report on Thursday, December 12th. Citizens Jmp cut shares of Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $1.50 price target (down previously from $2.00) on shares of Spruce Biosciences in a report on Wednesday, December 11th. Oppenheimer reissued a “market perform” rating on shares of Spruce Biosciences in a research report on Wednesday, December 11th. Finally, JMP Securities reaffirmed a “market perform” rating and issued a $3.00 price objective on shares of Spruce Biosciences in a research report on Wednesday, December 11th.

Institutional Investors Weigh In On Spruce Biosciences

An institutional investor recently bought a new position in Spruce Biosciences stock. Boothbay Fund Management LLC purchased a new position in shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 288,800 shares of the company’s stock, valued at approximately $121,000. Boothbay Fund Management LLC owned about 0.70% of Spruce Biosciences at the end of the most recent reporting period. 91.71% of the stock is owned by institutional investors.

Spruce Biosciences Stock Up 3.4 %

SPRB stock opened at $0.43 on Friday. The business has a 50 day moving average of $0.39 and a 200 day moving average of $0.45. The firm has a market cap of $17.56 million, a PE ratio of -0.45 and a beta of 2.37. Spruce Biosciences has a twelve month low of $0.34 and a twelve month high of $5.95. The company has a quick ratio of 5.36, a current ratio of 5.36 and a debt-to-equity ratio of 0.01.

About Spruce Biosciences

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.