Spruce Biosciences (NASDAQ:SPRB) Announces Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Spruce Biosciences (NASDAQ:SPRB) released its quarterly earnings data on Monday. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.10, Yahoo Finance reports. The company had revenue of $1.61 million for the quarter, compared to the consensus estimate of $1.55 million. Spruce Biosciences had a negative return on equity of 57.53% and a negative net margin of 461.67%.

Spruce Biosciences Stock Down 1.9 %

NASDAQ SPRB traded down $0.01 on Wednesday, hitting $0.43. The stock had a trading volume of 82,069 shares, compared to its average volume of 813,310. Spruce Biosciences has a 52-week low of $0.41 and a 52-week high of $5.95. The business’s fifty day moving average price is $0.56 and its 200 day moving average price is $1.60. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.67 and a quick ratio of 4.67. The stock has a market cap of $17.51 million, a price-to-earnings ratio of -0.38 and a beta of 2.41.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SPRB shares. HC Wainwright reissued a “neutral” rating on shares of Spruce Biosciences in a research report on Wednesday, June 5th. Oppenheimer lowered their price objective on shares of Spruce Biosciences from $4.00 to $3.00 and set an “outperform” rating for the company in a research note on Thursday, June 13th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $2.00 target price on shares of Spruce Biosciences in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Spruce Biosciences presently has an average rating of “Hold” and a consensus target price of $5.00.

About Spruce Biosciences

Spruce Biosciences, Inc, a biopharmaceutical company, focuses on developing and commercializing novel therapies for rare endocrine disorders. The company engages in developing tildacerfont, a non-steroidal therapy to enhance disease control and reduce steroid burden for patients suffering from congenital adrenal hyperplasia (CAH), which is in Phase 2b clinical trial; and to evaluate glucocorticoid reduction in adult patients with classic CAH that is Phase 2b clinical trial.