Spruce Biosciences (NASDAQ:SPRB) Stock Rating Lowered by Zacks Research

Spruce Biosciences (NASDAQ:SPRB) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other brokerages also recently issued reports on SPRB. Leerink Partners set a $160.00 price objective on Spruce Biosciences and gave the company a “market perform” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Spruce Biosciences in a report on Tuesday, October 14th. Eight equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $140.83.

Spruce Biosciences Stock Performance

NASDAQ SPRB opened at $133.24 on Thursday. Spruce Biosciences has a one year low of $4.28 and a one year high of $240.00. The stock has a 50-day moving average of $52.28 and a 200 day moving average of $23.36. The company has a market capitalization of $74.88 million, a price-to-earnings ratio of -1.55 and a beta of 2.47.

Spruce Biosciences Company Profile

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.