Spruce Biosciences Stock (SPRB): Why The Price Surged

By Amit Chowdhry ● Dec 20, 2021
  • The stock price of Spruce Biosciences Inc (NASDAQ: SPRB) increased by 102.82% in the previous trading session. This is why it happened.

The stock price of Spruce Biosciences Inc (NASDAQ: SPRB) increased by 102.82% in the previous trading session. Investors responded positively to a bullish research report.

Oppenheimer analyst Hartaj Singh initiated coverage of Spruce Biosciences with an “Outperform” rating and a $15 price target (more than a 500% upside to the previous close). Singh had told investors that the clinical slowdown is not reflective of the quality of Spruce Biosciences. 

Singh noted that tildacerfont is in late-stage development for Congenital Adrenal Hyperplasia and a Phase 2 proof of concept trial in a sub-population of Polycystic Ovary Syndrome should be started in the next few months. As a result, Singh is bullish on Spruce Biosciences.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.