Spruce Biosciences (NASDAQ:SPRB) Announces Quarterly Earnings Results

Spruce Biosciences (NASDAQ:SPRB) issued its quarterly earnings data on Monday. The company reported ($8.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($5.68) by ($2.83), FiscalAI reports.

Spruce Biosciences Price Performance

NASDAQ:SPRB opened at $46.55 on Monday. The company has a market cap of $133.60 million, a PE ratio of -1.17 and a beta of 3.57. The firm’s 50 day simple moving average is $48.51 and its 200 day simple moving average is $55.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 9.23 and a quick ratio of 9.23. Spruce Biosciences has a one year low of $38.06 and a one year high of $129.00.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. B. Riley Financial started coverage on Spruce Biosciences in a research note on Monday, July 13th. They set a “buy” rating and a $160.00 target price for the company. The Goldman Sachs Group upgraded shares of Spruce Biosciences to an “overweight” rating in a report on Thursday, August 13th. Weiss Ratings upgraded Spruce Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 6th. Citigroup reissued a “market outperform” rating on shares of Spruce Biosciences in a report on Friday, September 18th. Finally, HC Wainwright restated a “buy” rating on shares of Spruce Biosciences in a research report on Wednesday, August 26th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Spruce Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $158.33.

Spruce Biosciences Company Profile

Spruce Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for rare endocrine disorders. The company’s research is centered on conditions in which abnormal hormone production or regulation creates significant health risks and limited treatment options.

Its lead investigational product is tildacerfont, an oral, selective corticotropin-releasing factor type 1 receptor antagonist. Spruce has studied tildacerfont as a potential treatment for congenital adrenal hyperplasia, a rare genetic disorder affecting the adrenal glands, and has evaluated its ability to reduce hormone imbalances associated with the disease.