Spruce Biosciences (NASDAQ:SPRB – Get Free Report) released its quarterly earnings results on Monday. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.06, Zacks reports. The business had revenue of $0.60 million during the quarter, compared to analyst estimates of $1.80 million. Spruce Biosciences had a negative return on equity of 58.47% and a negative net margin of 555.23%.
Spruce Biosciences Price Performance
NASDAQ:SPRB opened at $0.53 on Wednesday. The business’s 50-day moving average is $0.49 and its 200 day moving average is $0.56. Spruce Biosciences has a 12 month low of $0.41 and a 12 month high of $5.95. The company has a market capitalization of $21.72 million, a P/E ratio of -0.56 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.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on SPRB. HC Wainwright reiterated a “neutral” rating on shares of Spruce Biosciences in a research note on Monday, August 19th. Royal Bank of Canada restated a “sector perform” rating and set a $2.00 target price on shares of Spruce Biosciences in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average 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.
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