Equities Analysts Offer Predictions for SPRB FY2024 Earnings

Spruce Biosciences, Inc. (NASDAQ:SPRB) – Research analysts at HC Wainwright increased their FY2024 EPS estimates for Spruce Biosciences in a report issued on Monday, December 16th. HC Wainwright analyst R. Selvaraju now anticipates that the company will earn ($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.

Several other research analysts have also issued reports on the company. Citizens Jmp lowered Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. JMP Securities restated a “market perform” rating and set a $3.00 price objective on shares of Spruce Biosciences in a research report on Wednesday, December 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $1.50 price objective (down from $2.00) on shares of Spruce Biosciences in a research note on Wednesday, December 11th. Guggenheim reissued a “neutral” rating on shares of Spruce Biosciences in a research report on Thursday, December 12th. Finally, Oppenheimer restated a “market perform” rating on shares of Spruce Biosciences in a research report on Wednesday, December 11th. Nine investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.90.

Spruce Biosciences Trading Up 2.1 %

Shares of NASDAQ:SPRB traded up $0.01 during mid-day trading on Thursday, reaching $0.39. 69,224 shares of the company’s stock were exchanged, compared to its average volume of 696,209. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.36 and a current ratio of 5.36. Spruce Biosciences has a twelve month low of $0.37 and a twelve month high of $5.95. The firm has a market capitalization of $16.12 million, a price-to-earnings ratio of -0.42 and a beta of 2.34. The business’s fifty day moving average price is $0.51 and its 200-day moving average price is $0.51.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC grew its holdings in Spruce Biosciences by 270.9% in 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 period. Almitas Capital LLC acquired a new position in shares of Spruce Biosciences during the second quarter valued at about $205,000. Finally, Renaissance Technologies LLC boosted its position in shares of Spruce Biosciences by 35.1% during the 2nd quarter. Renaissance Technologies LLC now owns 366,100 shares of the company’s stock worth $190,000 after purchasing an additional 95,100 shares in the last quarter. Institutional investors and hedge funds 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.