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

Spruce Biosciences (NASDAQ:SPRB) released 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. 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 for the quarter, compared to analyst estimates of $1.80 million.

Spruce Biosciences Trading Down 2.8 %

Shares of NASDAQ SPRB traded down $0.01 during trading hours on Wednesday, hitting $0.51. 200,795 shares of the company traded hands, compared to its average volume of 690,812. Spruce Biosciences has a 12 month low of $0.41 and a 12 month high of $5.95. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.17 and a current ratio of 5.17. The company’s 50 day moving average price is $0.49 and its 200 day moving average price is $0.56.

Analysts Set New Price Targets

Several research analysts have commented on the company. Royal Bank of Canada reissued a “sector perform” rating and set 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 report on Monday, August 19th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.