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Spruce Biosciences
(NASDAQ:SPRB)
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Rating:48Neutral
Price Target:
$52.00
▲(20.71% Upside)
Action:Reiterated
Date:08/17/26
The score is primarily constrained by weak financial performance (no TTM revenue, large losses, and substantial cash burn), despite a low-debt balance sheet. Technicals provide a moderate offset with improving short-term trend and positive momentum, but overbought-leaning signals and weaker longer-term averages temper the benefit. Valuation remains unattractive/unclear due to negative earnings and no dividend yield support.
Positive Factors
Low Financial Leverage
Very modest debt reduces financing pressure and preserves flexibility while Spruce funds clinical development. This is a meaningful structural advantage for a company that has not yet established commercial revenue.
Negative Factors
No Sustained Commercial Revenue
The absence of recurring revenue confirms that Spruce remains dependent on pipeline progression rather than an operating commercial franchise. This leaves future growth, funding capacity, and business value tied to successful product development.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Financial Leverage
Very modest debt reduces financing pressure and preserves flexibility while Spruce funds clinical development. This is a meaningful structural advantage for a company that has not yet established commercial revenue.
Read all positive factors
Spruce Biosciences (SPRB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$148.24M
Dividend YieldN/A
Average Volume (3M)80.64K
Price to Earnings (P/E)―
Beta (1Y)-10.28
Revenue Growth-100.00%
EPS Growth52.43%
CountryUS
Employees22
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-40.87
Shares Outstanding2,874,013
10 Day Avg. Volume71,536
30 Day Avg. Volume80,640
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)1.57
Price to Sales (P/S)0.00
P/FCF Ratio-2.00
Enterprise Value/Market Cap<0.01
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$153.17Price Target Upside255.54% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-26.29
Revenue Forecast (FY)N/A
Spruce Biosciences Business Overview & Revenue Model
Company Description
Spruce Biosciences, Inc., founded in 2014 and situated in Daly City, California, operates as a biopharmaceutical enterprise. Its primary objective is to advance and bring to market innovative treatments, particularly for uncommon endocrine conditi...
How the Company Makes Money
null...
Spruce Biosciences Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
54
Neutral
Cash Flow
30
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 4.91M | 10.09M | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 4.91M | 10.09M | 0.00 | 0.00 |
| EBITDA | -48.67M | -38.85M | -52.68M | -47.37M | -45.69M | -41.88M |
| Net Income | -51.35M | -38.97M | -53.04M | -47.92M | -46.18M | -42.29M |
Balance Sheet | ||||||
| Total Assets | 102.85M | 53.02M | 45.21M | 103.95M | 85.65M | 126.49M |
| Cash, Cash Equivalents and Short-Term Investments | 96.30M | 48.91M | 38.75M | 96.34M | 79.08M | 88.97M |
| Total Debt | 7.67M | 736.00K | 2.77M | 4.61M | 6.32M | 6.53M |
| Total Liabilities | 19.12M | 10.51M | 16.39M | 27.44M | 17.16M | 15.12M |
| Stockholders Equity | 83.73M | 42.52M | 28.82M | 76.51M | 68.49M | 111.37M |
Cash Flow | ||||||
| Free Cash Flow | -42.77M | -33.33M | -55.96M | -33.28M | -41.69M | -35.97M |
| Operating Cash Flow | -42.62M | -33.33M | -55.96M | -33.27M | -41.68M | -35.88M |
| Investing Cash Flow | -145.00K | 0.00 | 0.00 | 55.78M | 23.69M | -79.17M |
| Financing Cash Flow | 122.68M | 43.48M | -1.62M | 49.14M | -241.00K | 643.00K |
Spruce Biosciences Technical Analysis
Neutral
43.08
Price Trends
48.61
Positive
52.87
Negative
66.30
Negative
Market Momentum
1.45
Negative
61.54
Neutral
70.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SPRB, the sentiment is Neutral. The current price of 43.08 is below the 20-day moving average (MA) of 47.25, below the 50-day MA of 48.61, and below the 200-day MA of 66.30, indicating a neutral trend. The MACD of 1.45 indicates Negative momentum. The RSI at 61.54 is Neutral, neither overbought nor oversold. The STOCH value of 70.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SPRB.
Spruce Biosciences Risk Analysis
Spruce Biosciences disclosed 74 risk factors in its most recent earnings report. Spruce Biosciences reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Spruce Biosciences Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $95.72M | 0.88 | 103.52% | ― | 15.46% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $225.13M | -3.44 | -157.89% | ― | ― | 50.66% | |
48 Neutral | $148.24M | -1.26 | -123.53% | ― | -100.00% | 52.43% | |
47 Neutral | $244.27M | -3.17 | -91.60% | ― | 3472.96% | 67.74% | |
45 Neutral | $62.55M | -1.06 | -35.20% | ― | ― | 31.98% | |
44 Neutral | $55.51M | -1.22 | 214.97% | ― | -31.12% | -35.10% |
* Healthcare Sector Average
SPRB
Spruce Biosciences
51.58
43.63
548.81%
IMUX
Immunic
16.50
7.73
88.18%
FBIO
Fortress Biotech
2.87
0.58
25.33%
CLNN
Clene
4.32
-1.01
-18.95%
DTIL
Precision BioSciences
8.85
3.72
72.51%
IMA
ImageneBio
5.51
-8.64
-61.06%
Spruce Biosciences Corporate Events
Business Operations and StrategyExecutive/Board Changes
Spruce Biosciences Names Adrian Quartel Chief Medical Officer
Positive
Jul 27, 2026
On July 27, 2026, Spruce Biosciences, Inc. appointed Adrian Quartel, M.D., FFPM, as Chief Medical Officer, succeeding Interim Chief Medical Officer Dr. Kirk Ways, who will remain on the board. Quartel brings more than 25 years of global pharmaceut...
Executive/Board ChangesShareholder Meetings
Spruce Biosciences Stockholders Approve Directors and Annual Say-on-Pay
Neutral
May 26, 2026
Spruce Biosciences, Inc. held its 2026 Annual Meeting of Stockholders on May 21, 2026, in a virtual format, with approximately 65.86% of the 1,372,278 eligible shares represented, constituting a quorum for conducting business. Stockholders elected...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.