Spruce Biosciences (NASDAQ:SPRB) Issues Quarterly Earnings Results

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

Spruce Biosciences Stock Down 5.4%

Spruce Biosciences stock opened at $46.67 on Wednesday. The stock’s 50 day moving average price is $48.03 and its 200 day moving average price is $54.87. Spruce Biosciences has a 1-year low of $38.06 and a 1-year high of $127.90. The company has a market cap of $134.13 million, a PE ratio of -1.38 and a beta of 3.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 9.23 and a quick ratio of 9.23.

Analyst Ratings Changes

Several analysts recently commented on SPRB shares. Citizens Jmp reiterated a “market outperform” rating and issued a $144.00 price target on shares of Spruce Biosciences in a research report on Thursday, September 24th. HC Wainwright reaffirmed a “buy” rating on shares of Spruce Biosciences in a report on Wednesday, August 26th. Guggenheim reiterated a “buy” rating and issued a $104.00 price objective (down from $123.00) on shares of Spruce Biosciences in a research report on Monday, August 17th. Lake Street Capital started coverage on shares of Spruce Biosciences in a research note on Thursday, September 17th. They issued a “buy” rating and a $149.00 price objective on the stock. Finally, The Goldman Sachs Group upgraded shares of Spruce Biosciences to an “overweight” rating in a research report on Thursday, August 13th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.