Citizens JMP upgraded Spruce Biosciences (SPRB) to Outperform from Market Perform with a $254 price target The firm cites the company’s acquisition of enzyme replacement therapy TA-ERT for Sanfilippo syndrome type B for the upgrade. TA-ERT has five-year data showing the ability to normalize heparin sulfate, the surrogate biomarker for accelerated approval, the analyst tells investors in a research note. Citizens models peak TAE-ERT sales of $170M, which it believes “could be conservative.”
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