Spruce Biosciences (NASDAQ:SPRB) Posts Earnings Results, Misses Expectations By $0.37 EPS

Spruce Biosciences (NASDAQ:SPRB) announced its quarterly earnings results on Tuesday. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.37), Zacks reports. The company had revenue of $0.55 million for the quarter, compared to the consensus estimate of $0.50 million. Spruce Biosciences had a negative net margin of 555.23% and a negative return on equity of 62.10%.

Spruce Biosciences Trading Down 6.8 %

SPRB opened at $0.12 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.36 and a quick ratio of 5.36. Spruce Biosciences has a fifty-two week low of $0.12 and a fifty-two week high of $0.87. The company’s 50 day moving average price is $0.34 and its two-hundred day moving average price is $0.42. The firm has a market capitalization of $5.08 million, a price-to-earnings ratio of -0.13 and a beta of 2.39.

Analysts Set New Price Targets

Separately, Royal Bank of Canada decreased their target price on shares of Spruce Biosciences from $1.50 to $0.50 and set a “sector perform” rating on the stock in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Spruce Biosciences has an average rating of “Hold” and an average price target of $2.17.

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.