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

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

Spruce Biosciences Price Performance

Shares of NASDAQ:SPRB traded down $0.01 during midday trading on Tuesday, hitting $0.53. 149,800 shares of the stock were exchanged, compared to its average volume of 693,045. Spruce Biosciences has a twelve month low of $0.41 and a twelve month high of $5.95. The company has a 50 day moving average price of $0.49 and a 200-day moving average price of $0.56. The stock has a market cap of $21.72 million, a P/E ratio of -0.51 and a beta of 2.36. The company has a current ratio of 5.17, a quick ratio of 5.17 and a debt-to-equity ratio of 0.02.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $2.00 target price 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Spruce Biosciences has a consensus 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.