Spruce Biosciences (NASDAQ:SPRB) Issues Earnings Results

Spruce Biosciences (NASDAQ:SPRB) released its earnings results on Monday. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.10, Yahoo Finance reports. The firm had revenue of $1.61 million for the quarter, compared to the consensus estimate of $1.55 million. Spruce Biosciences had a negative net margin of 461.67% and a negative return on equity of 57.53%.

Spruce Biosciences Trading Down 0.9 %

SPRB traded down $0.00 on Wednesday, reaching $0.43. 69,961 shares of the company traded hands, compared to its average volume of 813,232. The company has a quick ratio of 4.67, a current ratio of 4.67 and a debt-to-equity ratio of 0.02. The company has a market cap of $17.69 million, a P/E ratio of -0.38 and a beta of 2.41. The firm has a fifty day simple moving average of $0.56 and a two-hundred day simple moving average of $1.60. Spruce Biosciences has a one year low of $0.41 and a one year high of $5.95.

Analysts Set New Price Targets

A number of brokerages recently commented on SPRB. Royal Bank of Canada reissued a “sector perform” rating and set a $2.00 price target 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 report on Wednesday, June 5th. Finally, Oppenheimer reduced their price target on shares of Spruce Biosciences from $4.00 to $3.00 and set an “outperform” rating on the stock in a research report on Thursday, June 13th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Spruce Biosciences presently 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.