Spruce Biosciences (NASDAQ:SPRB – Get Free Report) issued 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 company had revenue of $0.60 million for 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 Stock Down 2.8 %
SPRB traded down $0.01 on Wednesday, hitting $0.51. 200,795 shares of the company traded hands, compared to its average volume of 690,812. The company has a quick ratio of 5.17, a current ratio of 5.17 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average of $0.49 and a 200-day moving average of $0.56. Spruce Biosciences has a 12-month low of $0.41 and a 12-month high of $5.95.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on SPRB shares. HC Wainwright reissued a “neutral” rating on shares of Spruce Biosciences in a research report on Monday, August 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $2.00 target price on shares of Spruce Biosciences in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.
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