BUZZ-Oppenheimer starts Spruce Biosciences with "outperform" rating on rare disease strength
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Oppenheimer initiates coverage on Spruce Biosciences with an "outperform" rating and a $283 price target, implying a 241.7% upside. The brokerage expects U.S. accelerated approval next year for SPRB's experimental drug TA-ERT to treat Sanfilippo type B syndrome. Oppenheimer sees initial global sales of over $130 million and views BioMarin as a potential acquirer. SPRB stock is up ~163% YTD.
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