Spruce Biosciences (NASDAQ:SPRB) Releases Earnings Results, Beats Estimates By $0.10 EPS

Spruce Biosciences (NASDAQ:SPRB) announced its quarterly 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. Spruce Biosciences had a negative net margin of 461.67% and a negative return on equity of 57.53%. The firm had revenue of $1.61 million for the quarter, compared to analyst estimates of $1.55 million.

Spruce Biosciences Stock Performance

Shares of SPRB stock traded down $0.01 during midday trading on Wednesday, hitting $0.43. The company had a trading volume of 82,069 shares, compared to its average volume of 813,310. The stock has a market cap of $17.51 million, a price-to-earnings ratio of -0.38 and a beta of 2.41. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.67 and a quick ratio of 4.67. The company’s 50 day simple moving average is $0.56 and its 200 day simple moving average is $1.60. Spruce Biosciences has a 52-week low of $0.41 and a 52-week high of $5.95.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Oppenheimer dropped their price objective on Spruce Biosciences from $4.00 to $3.00 and set an “outperform” rating on the stock in a report on Thursday, June 13th. Royal Bank of Canada restated a “sector perform” rating and set a $2.00 price target on shares of Spruce Biosciences in a research note on Tuesday. Finally, HC Wainwright reiterated a “neutral” rating on shares of Spruce Biosciences in a research note on Wednesday, June 5th. Six equities 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, Spruce Biosciences presently has an average rating of “Hold” and an average 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.