FY2024 Earnings Forecast for SPRB Issued By Leerink Partnrs

Spruce Biosciences, Inc. (NASDAQ:SPRB) – Analysts at Leerink Partnrs lifted their FY2024 EPS estimates for shares of Spruce Biosciences in a report released on Tuesday, December 10th. Leerink Partnrs analyst J. Schwartz now expects that the company will post earnings per share of ($0.95) for the year, up from their prior estimate of ($0.96). The consensus estimate for Spruce Biosciences’ current full-year earnings is ($1.03) per share. Leerink Partnrs also issued estimates for Spruce Biosciences’ Q4 2024 earnings at ($0.23) EPS.

Several other brokerages have also commented on SPRB. JMP Securities reiterated a “market perform” rating and set a $3.00 price target on shares of Spruce Biosciences in a research note on Wednesday. Oppenheimer reiterated a “market perform” rating on shares of Spruce Biosciences in a research note on Wednesday. Guggenheim reiterated a “neutral” rating on shares of Spruce Biosciences in a research note on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and set a $1.50 price target (down from $2.00) on shares of Spruce Biosciences in a research note on Wednesday. Finally, HC Wainwright restated a “neutral” rating on shares of Spruce Biosciences in a research note on Monday, August 19th. Nine research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.90.

Spruce Biosciences Price Performance

Shares of NASDAQ:SPRB opened at $0.38 on Friday. The company’s fifty day moving average price is $0.51 and its 200 day moving average price is $0.52. Spruce Biosciences has a 12 month low of $0.37 and a 12 month high of $5.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.36 and a quick ratio of 5.36. The firm has a market capitalization of $15.83 million, a P/E ratio of -0.41 and a beta of 2.34.

Spruce Biosciences (NASDAQ:SPRB) last announced its quarterly earnings data on Monday, November 11th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $0.60 million for the quarter, compared to analyst estimates of $1.80 million.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC boosted its holdings in shares of Spruce Biosciences by 270.9% in the second quarter. Acadian Asset Management LLC now owns 1,367,997 shares of the company’s stock valued at $707,000 after acquiring an additional 999,166 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Spruce Biosciences by 35.1% in the second 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 in the last quarter. Finally, Almitas Capital LLC purchased a new stake in shares of Spruce Biosciences in the second quarter valued at about $205,000. 91.71% of the stock is currently owned by institutional investors and hedge funds.

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.