Research Analysts Offer Predictions for SPRB FY2024 Earnings

Spruce Biosciences, Inc. (NASDAQ:SPRB) – HC Wainwright boosted their FY2024 earnings per share (EPS) estimates for Spruce Biosciences in a research note issued on Monday, December 16th. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings of ($0.90) per share for the year, up from their prior estimate of ($1.02). HC Wainwright currently has a “Neutral” rating on the stock. The consensus estimate for Spruce Biosciences’ current full-year earnings is ($1.03) per share. HC Wainwright also issued estimates for Spruce Biosciences’ Q4 2024 earnings at ($0.19) EPS, Q1 2025 earnings at ($0.17) EPS, Q2 2025 earnings at ($0.16) EPS, Q3 2025 earnings at ($0.15) EPS, Q4 2025 earnings at ($0.13) EPS and FY2025 earnings at ($0.61) EPS.

A number of other brokerages also recently issued reports on SPRB. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $1.50 price target (down from $2.00) on shares of Spruce Biosciences in a report on Wednesday, December 11th. Oppenheimer restated a “market perform” rating on shares of Spruce Biosciences in a research note on Wednesday, December 11th. Guggenheim reaffirmed a “neutral” rating on shares of Spruce Biosciences in a report on Thursday, December 12th. JMP Securities reissued a “market perform” rating and set a $3.00 price objective on shares of Spruce Biosciences in a report on Wednesday, December 11th. Finally, Citizens Jmp cut shares of Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Nine analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.90.

Spruce Biosciences Stock Performance

Shares of SPRB stock opened at $0.38 on Thursday. The company has a market cap of $15.78 million, a P/E ratio of -0.41 and a beta of 2.34. The firm has a fifty day moving average price of $0.51 and a 200 day moving average price of $0.51. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.01. Spruce Biosciences has a 12 month low of $0.37 and a 12 month high of $5.95.

Spruce Biosciences (NASDAQ:SPRB) last posted its quarterly earnings results on Monday, November 11th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.06. Spruce Biosciences had a negative net margin of 555.23% and a negative return on equity of 62.10%. The company had revenue of $0.60 million during the quarter, compared to analysts’ expectations of $1.80 million.

Institutional Trading of Spruce Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC raised its stake in Spruce Biosciences by 35.1% during the 2nd quarter. Renaissance Technologies LLC now owns 366,100 shares of the company’s stock valued at $190,000 after acquiring an additional 95,100 shares during the last quarter. Almitas Capital LLC acquired a new position in shares of Spruce Biosciences in the second quarter valued at approximately $205,000. Finally, Acadian Asset Management LLC raised its stake in shares of Spruce Biosciences by 270.9% during the second quarter. Acadian Asset Management LLC now owns 1,367,997 shares of the company’s stock worth $707,000 after purchasing an additional 999,166 shares during the last quarter. Hedge funds and other institutional investors own 91.71% of the company’s stock.

About Spruce Biosciences

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.