Spruce Biosciences (NASDAQ:SPRB) Posts Quarterly Earnings Results, Beats Expectations By $0.98 EPS

Spruce Biosciences (NASDAQ:SPRB) released its quarterly earnings data on Monday. The company reported ($14.58) EPS for the quarter, beating the consensus estimate of ($15.56) by $0.98, Zacks reports.

Spruce Biosciences Stock Performance

Shares of NASDAQ SPRB opened at $117.06 on Wednesday. The stock has a market capitalization of $58.76 million, a P/E ratio of -1.38 and a beta of 3.28. The stock’s fifty day moving average is $78.10 and its 200 day moving average is $31.61. Spruce Biosciences has a 52 week low of $4.28 and a 52 week high of $240.00.

Analyst Ratings Changes

A number of research analysts have recently commented on SPRB shares. Zacks Research downgraded shares of Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Leerink Partners set a $160.00 target price on Spruce Biosciences and gave the stock a “market perform” rating in a research note on Tuesday, October 21st. JMP Securities set a $259.00 price target on Spruce Biosciences in a research note on Tuesday. Citigroup reiterated a “market perform” rating on shares of Spruce Biosciences in a research report on Tuesday. Finally, Citizens Jmp lifted their target price on Spruce Biosciences from $254.00 to $259.00 and gave the stock a “market outperform” rating in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $178.88.

Spruce Biosciences Company Profile

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.