Spruce Biosciences (NASDAQ:SPRB – Get Free Report) released its quarterly earnings results on Monday. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.06, Zacks reports. Spruce Biosciences had a negative net margin of 450.38% and a negative return on equity of 59.94%. The company had revenue of $0.60 million for the quarter, compared to analyst estimates of $1.80 million.
Spruce Biosciences Trading Down 1.3 %
SPRB traded down $0.01 during trading on Tuesday, reaching $0.53. 149,800 shares of the stock traded hands, compared to its average volume of 693,045. The stock has a market capitalization of $21.72 million, a PE ratio of -0.51 and a beta of 2.36. The stock’s 50-day moving average is $0.49 and its 200 day moving average is $0.56. The company has a quick ratio of 5.17, a current ratio of 5.17 and a debt-to-equity ratio of 0.02. Spruce Biosciences has a 12 month low of $0.41 and a 12 month high of $5.95.
Wall Street Analysts Forecast Growth
SPRB has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $2.00 price objective on shares of Spruce Biosciences in a report on Tuesday. HC Wainwright reaffirmed a “neutral” rating on shares of Spruce Biosciences in a research note on Monday, August 19th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.
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