why Spruce Biosciences Inc. [SPRB] is a Good Choice for Investors After New Price Target of $9.17

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Spruce Biosciences Inc. [NASDAQ: SPRB] jumped around 0.3 points on Thursday, while shares priced at $1.76 at the close of the session, up 20.55%. The company report on June 1, 2022 that Spruce Biosciences to Participate in June Investor Conferences.


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Spruce Biosciences, Inc. (Nasdaq: SPRB), a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders with significant unmet medical need, today announced that company management will participate in two upcoming investor conferences taking place in June.

Jefferies Healthcare ConferenceDate: June 8-10, 2022Format: Company presentation (June 8, 2022 at 4:00pm ET) and 1×1 meetings.

Spruce Biosciences Inc. stock is now -60.54% down from its year-to-date (YTD) trading value. SPRB Stock saw the intraday high of $1.93 and lowest of $1.50 per share. The company’s 52-week high price is 14.00, which means current price is +40.80% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 121.27K shares, SPRB reached a trading volume of 4180439 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Spruce Biosciences Inc. [SPRB]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SPRB shares is $9.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SPRB stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for Spruce Biosciences Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 17, 2021. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Speculative Buy. The new note on the price target was released on December 10, 2021, representing the official price target for Spruce Biosciences Inc. stock.

The Average True Range (ATR) for Spruce Biosciences Inc. is set at 0.19 The Price to Book ratio for the last quarter was 0.41, with the Price to Cash per share for the same quarter was set at 4.05.

How has SPRB stock performed recently?

Spruce Biosciences Inc. [SPRB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 33.33. With this latest performance, SPRB shares gained by 1.73% in over the last four-week period, additionally sinking by -26.97% over the last 6 months – not to mention a drop of -85.42% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SPRB stock in for the last two-week period is set at 59.54, with the RSI for the last a single of trading hit 68.27, and the three-weeks RSI is set at 53.75 for Spruce Biosciences Inc. [SPRB]. The present Moving Average for the last 50 days of trading for this stock 1.7714, while it was recorded at 1.5120 for the last single week of trading, and 3.5448 for the last 200 days.

Spruce Biosciences Inc. [SPRB]: Deeper insight into the fundamentals

Return on Equity for this stock declined to -32.43, with Return on Assets sitting at -29.23.

Spruce Biosciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.60 and a Current Ratio set at 10.60.

Insider trade positions for Spruce Biosciences Inc. [SPRB]

There are presently around $25 million, or 89.10% of SPRB stock, in the hands of institutional investors. The top three institutional holders of SPRB stocks are: NOVO HOLDINGS A/S with ownership of 4,514,336, which is approximately 0% of the company’s market cap and around 0.03% of the total institutional ownership; OMEGA FUND MANAGEMENT, LLC, holding 2,161,022 shares of the stock with an approximate value of $3.15 million in SPRB stocks shares; and RIVERVEST VENTURE MANAGEMENT LLC, currently with $3.14 million in SPRB stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Spruce Biosciences Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 11 institutional holders increased their position in Spruce Biosciences Inc. [NASDAQ:SPRB] by around 408,980 shares. Additionally, 30 investors decreased positions by around 2,822,391 shares, while 13 investors held positions by with 13,859,390 shares. The mentioned changes placed institutional holdings at 17,090,761 shares, according to the latest SEC report filing. SPRB stock had 3 new institutional investments in for a total of 16,656 shares, while 12 institutional investors sold positions of 2,025,964 shares during the same period.

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