Spruce Biosciences (NASDAQ:SPRB) Earns “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Spruce Biosciences (NASDAQ:SPRBFree Report) in a research report report published on Tuesday, Benzinga reports. Royal Bank of Canada currently has a $9.00 target price on the stock.

SPRB has been the subject of several other reports. Guggenheim initiated coverage on Spruce Biosciences in a research report on Wednesday, February 21st. They set a buy rating and a $10.00 target price for the company. HC Wainwright reiterated a buy rating and set a $10.00 target price on shares of Spruce Biosciences in a research report on Monday, November 20th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $8.14.

View Our Latest Analysis on Spruce Biosciences

Spruce Biosciences Stock Down 5.2 %

NASDAQ SPRB opened at $5.11 on Tuesday. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average of $3.87 and a two-hundred day moving average of $2.51. The firm has a market capitalization of $208.03 million, a price-to-earnings ratio of -3.43 and a beta of 2.68. Spruce Biosciences has a 52 week low of $1.01 and a 52 week high of $5.95.

Institutional Investors Weigh In On Spruce Biosciences

Large investors have recently bought and sold shares of the company. HRT Financial LP purchased a new stake in Spruce Biosciences in the first quarter valued at approximately $29,000. Charles Schwab Investment Management Inc. acquired a new position in Spruce Biosciences in the second quarter valued at approximately $33,000. Two Sigma Advisers LP acquired a new position in Spruce Biosciences in the first quarter valued at approximately $83,000. Dimensional Fund Advisors LP lifted its holdings in Spruce Biosciences by 281.7% in the first quarter. Dimensional Fund Advisors LP now owns 39,168 shares of the company’s stock valued at $87,000 after acquiring an additional 28,907 shares during the period. Finally, Northern Trust Corp lifted its holdings in Spruce Biosciences by 315.5% in the second quarter. Northern Trust Corp now owns 57,097 shares of the company’s stock valued at $123,000 after acquiring an additional 43,356 shares during the period. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Spruce Biosciences Company Profile

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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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