Spruce Biosciences (NASDAQ:SPRB) Announces Quarterly Earnings Results

Spruce Biosciences (NASDAQ:SPRB) announced 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 $49.34 on Tuesday. The company has a quick ratio of 9.23, a current ratio of 9.23 and a debt-to-equity ratio of 0.05. Spruce Biosciences has a fifty-two week low of $38.06 and a fifty-two week high of $129.00. The stock has a market cap of $141.61 million, a PE ratio of -1.24 and a beta of 3.57. The firm’s fifty day simple moving average is $48.28 and its 200-day simple moving average is $55.06.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SPRB. Lake Street Capital initiated coverage on shares of Spruce Biosciences in a report on Thursday, September 17th. They issued a “buy” rating and a $149.00 target price on the stock. The Goldman Sachs Group raised shares of Spruce Biosciences to an “overweight” rating in a report on Thursday, August 13th. B. Riley Financial started coverage on shares of Spruce Biosciences in a report on Monday, July 13th. They set a “buy” rating and a $160.00 price target for the company. Citigroup reiterated a “market outperform” rating on shares of Spruce Biosciences in a research report on Friday, September 18th. Finally, 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. Eleven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $158.33.

About Spruce Biosciences

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.