Spruce Biosciences (NASDAQ:SPRB) Shares Down 1% - What's Next?

Key Points

• Spreuce Biosciences' shares fell by 1% during mid-day trading, with the stock last traded at $173.60 and experiencing a significant decline in volume, down 77% from its average.
• Weiss Ratings has maintained a "sell" rating for the stock, which has an average price target of $131.25 based on consensus from analysts, where six hold and one sell rating have been issued.
• The company is focusing on developing therapies for rare endocrine disorders, currently conducting Phase 2b trials for its drug tildacerfont aimed at reducing steroid reliance in patients with congenital adrenal hyperplasia.

Spruce Biosciences, Inc. (NASDAQ:SPRB - Get Free Report)'s share price was down 1% during mid-day trading on Friday . The company traded as low as $161.86 and last traded at $173.60. Approximately 323,960 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 1,427,235 shares. The stock had previously closed at $175.31.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Spruce Biosciences in a report on Saturday, September 27th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $131.25.

Spruce Biosciences Trading Down 1.0%

The stock's 50-day moving average is $24.29 and its 200-day moving average is $14.68. The stock has a market cap of $97.22 million, a P/E ratio of -2.01 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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