Spruce Biosciences, Inc. (NASDAQ: SPRB) has received a consensus rating of “Buy” by the six brokerages that cover the company, reports MarketBeat. Two equity research analysts rated the stock with a conservation rating and four gave the company a buy rating. The twelve-month average target price among analysts who issued ratings on the stock in the past year is $ 8.10.

A number of research analysts weighed in on the title. SVB Leerink downgraded Spruce Biosciences shares from an “outperformance” rating to a “market performance” rating and cut its target price for the stock from $ 35 to $ 5 in a research report released on Tuesday November 16. HC Wainwright reduced its target price on Spruce Biosciences shares from $ 30.00 to $ 20.00 and established a “buy” rating for the company in a research report released on Tuesday, November 16. Credit Suisse Group lowered its target price on Spruce Biosciences shares from $ 26.00 to $ 6.00 and established an “outperformance” rating for the company in a research report released on Tuesday, November 16. Benchmark assumed coverage of Spruce Biosciences shares in a report released Friday. They set a “speculative buy” rating and a price target of $ 7.00 on the stock. Finally, Zacks Investment Research upgraded Spruce Biosciences shares from a “hold” rating to a “buy” rating and set a target price of $ 2.50 on the stock in a report released Tuesday.

Several large investors have recently bought and sold shares of SPRB. Sands Capital Ventures LLC purchased a new position in shares of Spruce Biosciences during the 3rd quarter valued at approximately $ 4,730,000. Vanguard Group Inc. increased its stake in Spruce Biosciences by 96.0% in the second quarter. Vanguard Group Inc. now owns 369,520 shares of the company valued at $ 4,142,000 after acquiring an additional 181,003 shares during the period. Deerfield Management Company LP Series C increased its position in Spruce Biosciences by 7.5% in the third quarter. Deerfield Management Company LP Series C now owns 2,200,000 shares of the company valued at $ 13,222,000 after purchasing an additional 153,042 shares during the last quarter. Caas Capital Management LP purchased a new position in Spruce Biosciences during the second quarter valued at approximately $ 1,036,000. Finally, Morgan Stanley raised its stake in Spruce Biosciences by 257.5% during the second quarter. Morgan Stanley now owns 122,590 shares of the company valued at $ 1,375,000 after purchasing an additional 88,298 shares during the period. Institutional investors hold 93.65% of the shares of the company.

Spruce Biosciences stock opened at $ 2.56 on Friday. The company has a market cap of $ 60.07 million, a price / earnings ratio of -1.42 and a beta of 2.90. The company has a debt to equity ratio of 0.04, a current ratio of 10.37, and a rapid ratio of 10.37. Spruce Biosciences has a 52-week low of $ 2.25 and a 52-week high of $ 28.49. The company has a fifty-day moving average price of $ 4.04 and a two hundred-day moving average price of $ 7.63.

Spruce Biosciences (NASDAQ: SPRB) last released its results on Monday, November 15. The company reported ($ 0.49) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($ 0.57) by $ 0.08. As a group, sell-side analysts expect Spruce Biosciences to post earnings per share of -1.97 for the current year.

Spruce Biosciences Company Profile

Spruce Biosciences, Inc., a biopharmaceutical company, is focused on the development and commercialization of novel therapies for rare endocrine disorders. The company is committed to the development of tildacerfont, a nonsteroidal therapy to improve disease control and reduce steroid burden for patients with congenital adrenal hyperplasia (HCS).

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