Spruce Biosciences price target lowered to $10 from $20 at H.C. Wainwright

H.C. Wainwright analyst Boobalan Pachaiyappan lowered the firm’s price target on Spruce Biosciences to $10 from $20 and keeps a Buy rating on the shares. The target drop reflects the dilution from the company’s most recent equity financing completed in February, the analyst tells investors in a research note.