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

Posted by Dante Gardener on Nov 13th, 2024

Spruce Biosciences (NASDAQ:SPRB – Get Free Report) announced its quarterly earnings results on Monday. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.06, Zacks reports. The company had revenue of $0.60 million for the quarter, compared to analysts’ expectations of $1.80 million. Spruce Biosciences had a negative net margin of 555.23% and a negative return on equity of 58.47%.

Spruce Biosciences Price Performance

NASDAQ SPRB opened at $0.53 on Wednesday. The company has a 50-day moving average price of $0.49 and a 200-day moving average price of $0.56. Spruce Biosciences has a 52 week low of $0.41 and a 52 week high of $5.95. 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 firm has a market capitalization of $21.72 million, a P/E ratio of -0.56 and a beta of 2.36.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SPRB shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $2.00 target price on shares of Spruce Biosciences in a research note on Tuesday. HC Wainwright reaffirmed a “neutral” rating on shares of Spruce Biosciences in a research report on Monday, August 19th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.00.

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Spruce Biosciences Company Profile

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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.