Spruce Biosciences (NASDAQ:SPRB) Issues Quarterly Earnings Results

Spruce Biosciences (NASDAQ:SPRB) posted its earnings results on Monday. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.06, Zacks reports. Spruce Biosciences had a negative net margin of 555.23% and a negative return on equity of 58.47%. The firm had revenue of $0.60 million during the quarter, compared to analysts’ expectations of $1.80 million.

Spruce Biosciences Stock Performance

Shares of NASDAQ SPRB opened at $0.51 on Thursday. The firm’s 50 day moving average price is $0.49 and its 200-day moving average price is $0.56. Spruce Biosciences has a 52-week low of $0.41 and a 52-week high of $5.95. The company has a current ratio of 5.17, a quick ratio of 5.17 and a debt-to-equity ratio of 0.02.

Analysts Set New Price Targets

SPRB has been the subject of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $2.00 price objective on shares of Spruce Biosciences in a report on Tuesday. HC Wainwright restated a “neutral” rating on shares of Spruce Biosciences in a research report on Monday, August 19th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.00.

Spruce Biosciences Company Profile

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.