Spruce Biosciences (NASDAQ:SPRB) Releases Earnings Results, Beats Estimates By $0.98 EPS

Spruce Biosciences (NASDAQ:SPRB) issued 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

NASDAQ:SPRB traded down $11.39 during trading hours on Monday, reaching $115.61. The company’s stock had a trading volume of 308,220 shares, compared to its average volume of 158,018. The firm has a market capitalization of $57.81 million, a price-to-earnings ratio of -1.34 and a beta of 3.22. The firm has a 50-day simple moving average of $73.81 and a 200-day simple moving average of $30.29. Spruce Biosciences has a 1 year low of $4.28 and a 1 year high of $240.00.

Wall Street Analysts Forecast Growth

SPRB has been the subject of several analyst reports. Citigroup raised shares of Spruce Biosciences to an “outperform” rating in a report on Tuesday, October 28th. Citizens Jmp upgraded Spruce Biosciences from a “market perform” rating to an “outperform” rating and set a $254.00 target price for the company in a research report on Tuesday, October 28th. Weiss Ratings restated a “sell (e+)” rating on shares of Spruce Biosciences in a research note on Wednesday. Zacks Research downgraded Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Finally, JMP Securities set a $254.00 price objective on Spruce Biosciences and gave the stock a “market outperform” rating in a report on Tuesday, October 28th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $176.38.

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.