Spruce Biosciences, Inc. (SPRB) - What Are Analysts Thinking About This Stock?

Key Points

• Analyst sentiment is broadly positive: Spruce Biosciences has a “Moderate Buy” consensus from 12 analysts—11 buy ratings and one sell—with an average one-year price target of $158.33.
• Shares traded at $46.55 after rising 9% on Friday, but remain well below their $129 52-week high; the stock has a market capitalization of about $133.6 million.
• The clinical-stage biotech reported a quarterly loss of $6.68 per share, missing analysts’ estimate of a $5.79 loss. Its lead investigational drug, tildacerfont, is being developed for rare endocrine disorders, including congenital adrenal hyperplasia.

Spruce Biosciences, Inc. (NASDAQ:SPRB - Get Free Report) has earned an average rating of "Moderate Buy" from the twelve research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $158.33.

Several equities research analysts have weighed in on SPRB shares. Wall Street Zen cut Spruce Biosciences from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Citizens Jmp reissued a "market outperform" rating and set a $144.00 price target on shares of Spruce Biosciences in a research report on Thursday, September 24th. Guggenheim restated a "buy" rating and set a $104.00 price target (down from $123.00) on shares of Spruce Biosciences in a research note on Monday, August 17th. Weiss Ratings upgraded Spruce Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, October 6th. Finally, The Goldman Sachs Group raised shares of Spruce Biosciences to an "overweight" rating in a research note on Thursday, August 13th.

Institutional Investors Weigh In On Spruce Biosciences

Large investors have recently modified their holdings of the business. SkyView Investment Advisors LLC bought a new position in shares of Spruce Biosciences during the second quarter valued at approximately $162,000. Pale Fire Capital SE purchased a new stake in Spruce Biosciences during the second quarter worth $206,000. Stempoint Capital LP purchased a new stake in Spruce Biosciences during the first quarter worth $416,000. Bank of New York Mellon Corp bought a new stake in Spruce Biosciences during the 2nd quarter valued at $366,000. Finally, ADAR1 Capital Management LLC boosted its position in Spruce Biosciences by 1.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 58,600 shares of the company's stock valued at $3,830,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 91.71% of the company's stock.

Spruce Biosciences Trading Up 9.0%

Spruce Biosciences stock traded up $3.84 during trading hours on Friday, hitting $46.55. The company had a trading volume of 63,697 shares, compared to its average volume of 79,842. The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.23 and a current ratio of 9.23. The firm has a market cap of $133.60 million, a P/E ratio of -1.17 and a beta of 3.57. The company has a 50-day moving average price of $48.51 and a two-hundred day moving average price of $55.21. Spruce Biosciences has a 1 year low of $38.06 and a 1 year high of $129.00.

Spruce Biosciences (NASDAQ:SPRB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($6.68) earnings per share for the quarter, missing the consensus estimate of ($5.79) by ($0.89). On average, sell-side analysts anticipate that Spruce Biosciences will post -25.53 earnings per share for the current year.

About Spruce Biosciences

Spruce Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for rare endocrine disorders. The company's research is centered on conditions in which abnormal hormone production or regulation creates significant health risks and limited treatment options.

Its lead investigational product is tildacerfont, an oral, selective corticotropin-releasing factor type 1 receptor antagonist. Spruce has studied tildacerfont as a potential treatment for congenital adrenal hyperplasia, a rare genetic disorder affecting the adrenal glands, and has evaluated its ability to reduce hormone imbalances associated with the disease.

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