Citizens Jmp Reaffirms “Market Outperform” Rating for Spruce Biosciences (NASDAQ:SPRB)

by · The Markets Daily

Spruce Biosciences (NASDAQ:SPRB – Get Free Report)‘s stock had its “market outperform” rating reiterated by stock analysts at Citizens Jmp in a research note issued on Thursday, Benzinga reports. They presently have a $144.00 price objective on the stock. Citizens Jmp’s target price would suggest a potential upside of 191.38% from the company’s previous close.

Several other equities research analysts also recently weighed in on SPRB. Lake Street Capital began coverage on Spruce Biosciences in a report on Thursday, September 17th. They set a “buy” rating and a $149.00 price target for the company. Oppenheimer reissued an “outperform” rating on shares of Spruce Biosciences in a research note on Wednesday, May 27th. HC Wainwright reaffirmed a “buy” rating on shares of Spruce Biosciences in a research note on Wednesday, August 26th. Citigroup reissued a “market outperform” rating on shares of Spruce Biosciences in a research report on Friday, September 18th. Finally, Wall Street Zen lowered shares of Spruce Biosciences from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Eleven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.33.

Check Out Our Latest Research Report on Spruce Biosciences

Spruce Biosciences Stock Performance

Shares of SPRB opened at $49.42 on Thursday. The stock has a 50 day moving average price of $51.20 and a 200 day moving average price of $54.59. The company has a market capitalization of $141.84 million, a price-to-earnings ratio of -1.24 and a beta of 3.31. Spruce Biosciences has a 52-week low of $7.26 and a 52-week high of $240.00. The company has a quick ratio of 9.23, a current ratio of 9.23 and a debt-to-equity ratio of 0.05.

Spruce Biosciences (NASDAQ:SPRB – Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($6.68) EPS for the quarter, missing analysts’ consensus estimates of ($5.79) by ($0.89). Research analysts predict that Spruce Biosciences will post -25.53 EPS for the current fiscal year.

Institutional Trading of Spruce Biosciences

Large investors have recently modified their holdings of the business. AWM Investment Company Inc. acquired a new stake in Spruce Biosciences during the 2nd quarter valued at approximately $7,937,000. Bank of New York Mellon Corp bought a new position in Spruce Biosciences during the second quarter worth $366,000. Stempoint Capital LP bought a new position in Spruce Biosciences in the first quarter worth about $416,000. Pale Fire Capital SE bought a new position in shares of Spruce Biosciences during the second quarter valued at approximately $206,000. Finally, SkyView Investment Advisors LLC bought a new position in shares of Spruce Biosciences during the second quarter worth about $162,000. 91.71% of the stock is currently owned by institutional investors and hedge funds.

About Spruce Biosciences

(Get Free Report)

Spruce Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for endocrine disorders. The company’s research has centered on therapies intended to address conditions involving hormone dysregulation and adrenal function.

Its lead investigational product is tildacerfont, an oral, selective corticotropin-releasing factor type 1 (CRF1) receptor antagonist. The therapy is designed to reduce excessive adrenocorticotropic hormone (ACTH) signaling and adrenal androgen production, with development focused primarily on congenital adrenal hyperplasia (CAH), a rare inherited disorder affecting cortisol production.

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