UPDATE: Oppenheimer Starts Spruce Biosciences, Inc. (SPRB) at Outperform
Oppenheimer analyst Hartaj Singh initiates coverage on Spruce Biosciences, Inc. (NASDAQ: SPRB) with a Outperform rating and a price target of $15.00.
The analyst comments "SPRB's tildacerfont, a novel non-steroidal agent, is in late-stage development for adult classic Congenital Adrenal Hyperplasia (CAH). In a Phase 2a (P2a) Study 201, tildacerfont established Proof of Concept (PoC) by reducing key biomarkers ACTH, A4, and 17-OHP. These data demonstrated the potential of tildacerfont to reduce androgen excess without increasing the total daily glucocorticoid (GC) dose during a 12-week treatment period in patients with classic CAH, something that has not been reported in any other investigational therapy. A P2 study in pediatric CAH and a P2 PoC trial in a sub-population of Polycystic Ovary Syndrome (PCOS) should be initiated in the next few months. We are bullish."
For an analyst ratings summary and ratings history on Spruce Biosciences, Inc. click here. For more ratings news on Spruce Biosciences, Inc. click here.
Shares of Spruce Biosciences, Inc. closed at $2.50 yesterday.