Spruce Biosciences (NASDAQ:SPRB) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Spruce Biosciences (NASDAQ:SPRB) announced its quarterly earnings data on Monday. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.06, Zacks reports. The company had revenue of $0.60 million during the quarter, compared to analysts’ expectations of $1.80 million. Spruce Biosciences had a negative return on equity of 59.94% and a negative net margin of 450.38%.

Spruce Biosciences Stock Performance

Shares of SPRB traded down $0.01 during mid-day trading on Tuesday, hitting $0.53. 149,800 shares of the company’s stock were exchanged, compared to its average volume of 693,045. Spruce Biosciences has a 52 week low of $0.41 and a 52 week high of $5.95. The stock’s 50-day simple moving average is $0.49 and its 200-day simple moving average is $0.56. The firm has a market cap of $21.72 million, a price-to-earnings ratio of -0.51 and a beta of 2.36. The company has a quick ratio of 5.17, a current ratio of 5.17 and a debt-to-equity ratio of 0.02.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SPRB. Royal Bank of Canada reiterated a “sector perform” rating and issued a $2.00 target price on shares of Spruce Biosciences in a research note on Tuesday. HC Wainwright reiterated a “neutral” rating on shares of Spruce Biosciences in a research note on Monday, August 19th. 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, the company has an average rating of “Hold” and an average 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.