Spruce Biosciences (NASDAQ:SPRB) Issues Quarterly Earnings Results

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

Spruce Biosciences Price Performance

SPRB stock opened at $46.55 on Monday. The stock has a 50-day moving average price of $48.51 and a two-hundred day moving average price of $55.21. Spruce Biosciences has a 1 year low of $38.06 and a 1 year high of $129.00. The stock has a market cap of $133.60 million, a PE ratio of -1.17 and a beta of 3.57. The company has a current ratio of 9.23, a quick ratio of 9.23 and a debt-to-equity ratio of 0.05.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SPRB. Citizens Jmp reissued a “market outperform” rating and issued a $144.00 price target on shares of Spruce Biosciences in a research report on Thursday, September 24th. Wall Street Zen downgraded Spruce Biosciences from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. HC Wainwright reiterated a “buy” rating on shares of Spruce Biosciences in a research report on Wednesday, August 26th. Citigroup reaffirmed a “market outperform” rating on shares of Spruce Biosciences in a research note on Friday, September 18th. Finally, Lake Street Capital assumed coverage on shares of Spruce Biosciences in a research note on Thursday, September 17th. They set a “buy” rating and a $149.00 price objective on the stock. Eleven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.