Spruce Biosciences (NASDAQ:SPRB) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Spruce Biosciences was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating, reflecting increased confidence from analysts.
• Despite the upgrade, Weiss Ratings maintained a "sell (d-)" rating on the stock, resulting in varied analyst opinions with one Strong Buy, six Holds, and one Sell.
• Spruce Biosciences is focused on developing therapies for rare endocrine disorders, with its key product tildacerfont currently in Phase 2b clinical trials.

Spruce Biosciences (NASDAQ:SPRB - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Thursday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Spruce Biosciences in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $131.25.

Spruce Biosciences Price Performance

Shares of Spruce Biosciences stock opened at $157.82 on Thursday. The business has a 50 day simple moving average of $39.58 and a two-hundred day simple moving average of $19.42. Spruce Biosciences has a 12 month low of $4.28 and a 12 month high of $240.00. The stock has a market capitalization of $88.38 million, a P/E ratio of -1.83 and a beta of 2.47.

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.

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