SVB Leerink Equities Analysts Raise Earnings Estimates for Spruce Biosciences, Inc. (NASDAQ:SPRB)

Spruce Biosciences, Inc. (NASDAQ:SPRBGet Rating) – Equities research analysts at SVB Leerink lifted their FY2022 earnings per share estimates for Spruce Biosciences in a research note issued to investors on Sunday, November 13th. SVB Leerink analyst J. Schwartz now anticipates that the company will earn ($2.00) per share for the year, up from their prior forecast of ($2.08). The consensus estimate for Spruce Biosciences’ current full-year earnings is ($2.13) per share. SVB Leerink also issued estimates for Spruce Biosciences’ Q4 2022 earnings at ($0.51) EPS, Q1 2023 earnings at ($0.53) EPS, Q2 2023 earnings at ($0.55) EPS, Q3 2023 earnings at ($0.57) EPS, Q4 2023 earnings at ($0.60) EPS, FY2023 earnings at ($2.26) EPS, FY2024 earnings at ($0.91) EPS and FY2025 earnings at ($0.65) EPS.

Separately, JMP Securities assumed coverage on Spruce Biosciences in a report on Wednesday. They set a “market outperform” rating and a $8.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Spruce Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.71.

Spruce Biosciences Price Performance

Shares of NASDAQ:SPRB opened at $1.19 on Wednesday. The company has a current ratio of 7.76, a quick ratio of 7.76 and a debt-to-equity ratio of 0.05. Spruce Biosciences has a 1 year low of $0.96 and a 1 year high of $5.80. The business has a fifty day simple moving average of $1.31 and a 200 day simple moving average of $1.61. The firm has a market cap of $28.04 million, a price-to-earnings ratio of -0.63 and a beta of 1.33.

Institutional Investors Weigh In On Spruce Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Marquette Asset Management LLC boosted its holdings in Spruce Biosciences by 56.9% during the second quarter. Marquette Asset Management LLC now owns 64,090 shares of the company’s stock valued at $112,000 after purchasing an additional 23,237 shares in the last quarter. BlackRock Inc. boosted its holdings in Spruce Biosciences by 26.0% during the first quarter. BlackRock Inc. now owns 529,554 shares of the company’s stock valued at $1,064,000 after purchasing an additional 109,226 shares in the last quarter. State Street Corp boosted its holdings in Spruce Biosciences by 61.8% during the first quarter. State Street Corp now owns 205,459 shares of the company’s stock valued at $413,000 after purchasing an additional 78,490 shares in the last quarter. Millennium Management LLC acquired a new stake in Spruce Biosciences during the second quarter valued at approximately $331,000. Finally, Renaissance Technologies LLC boosted its holdings in Spruce Biosciences by 35.5% during the second quarter. Renaissance Technologies LLC now owns 151,400 shares of the company’s stock valued at $263,000 after purchasing an additional 39,700 shares in the last quarter. 77.24% of the stock is owned by institutional investors and hedge funds.

Spruce Biosciences Company Profile

(Get Rating)

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 adult patients suffering from congenital adrenal hyperplasia (CAH), which is in Phase 2b clinical trial; and to evaluate glucocorticoid reduction and clinical consequences in adult patients with classic CAH that is Phase 2b clinical trial.

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Earnings History and Estimates for Spruce Biosciences (NASDAQ:SPRB)

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