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

by · The Markets Daily

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

Spruce Biosciences Trading Down 1.3 %

Shares of SPRB stock traded down $0.01 during trading hours on Tuesday, reaching $0.53. The company had a trading volume of 149,800 shares, compared to its average volume of 693,045. The company has a 50 day moving average of $0.49 and a 200 day moving average of $0.56. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.17 and a quick ratio of 5.17. The firm has a market cap of $21.72 million, a price-to-earnings ratio of -0.51 and a beta of 2.36. Spruce Biosciences has a 1-year low of $0.41 and a 1-year high of $5.95.

Analyst Ratings Changes

SPRB has been the subject of a number of analyst reports. HC Wainwright reaffirmed a “neutral” rating on shares of Spruce Biosciences in a research report on Monday, August 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $2.00 price target on shares of Spruce Biosciences in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.00.

Get Our Latest Analysis on SPRB

Spruce Biosciences Company Profile

(Get Free Report)

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.

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