Spruce Biosciences (NASDAQ:SPRB) Posts Quarterly Earnings Results, Misses Estimates By $2.83 EPS

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

Spruce Biosciences Stock Performance

NASDAQ:SPRB opened at $46.55 on Monday. The company has a market capitalization of $133.60 million, a PE ratio of -1.17 and a beta of 3.57. The company has a 50 day simple moving average of $48.51 and a two-hundred day simple moving average of $55.21. The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.23 and a current ratio of 9.23. Spruce Biosciences has a fifty-two week low of $38.06 and a fifty-two week high of $129.00.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Citizens Jmp reiterated a “market outperform” rating and set a $144.00 target price on shares of Spruce Biosciences in a research report on Thursday, September 24th. B. Riley Financial started coverage on shares of Spruce Biosciences in a research report on Monday, July 13th. They issued a “buy” rating and a $160.00 price target for the company. HC Wainwright restated a “buy” rating on shares of Spruce Biosciences in a research report on Wednesday, August 26th. The Goldman Sachs Group raised shares of Spruce Biosciences to an “overweight” rating in a research note on Thursday, August 13th. Finally, Lake Street Capital assumed coverage on shares of Spruce Biosciences in a report on Thursday, September 17th. They set a “buy” rating and a $149.00 price target on the stock. Eleven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.