Spruce Biosciences (SPRB)
NASDAQ:SPRB
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Spruce Biosciences
(NASDAQ:SPRB)
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Rating:47Neutral
Price Target:
$69.00
▲(11.02% Upside)
Action:ReiteratedDate:03/26/26
The score is held down primarily by weak financial performance (no revenue, ongoing losses, and sustained cash burn despite some improvement) and limited support from valuation due to negative earnings. Technicals are mixed with only moderate momentum. Offsetting these, corporate events improve near-term funding flexibility and sharpen strategic focus around TA-ERT, but they do not fully counterbalance the underlying operating and cash-flow risks.
Positive Factors
Promising TA-ERT clinical data
Durable biomarker normalization and sustained functional preservation in long-term TA-ERT data support a genuine disease-modifying profile for MPS IIIB. If replicated in confirmatory studies, this creates durable clinical differentiation, high barrier to entry, and stronger long-term commercial and regulatory value in an indication with no approved therapies.
Negative Factors
No product revenue and sustained losses
As a clinical-stage biotech with zero 2025 product revenue and multi-year operating losses, Spruce cannot self-fund development from operations. Sustained negative earnings erode equity and asset bases over time, heightening dependency on external capital and increasing long-term dilution and financing risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Promising TA-ERT clinical data
Durable biomarker normalization and sustained functional preservation in long-term TA-ERT data support a genuine disease-modifying profile for MPS IIIB. If replicated in confirmatory studies, this creates durable clinical differentiation, high barrier to entry, and stronger long-term commercial and regulatory value in an indication with no approved therapies.
Read all positive factors
Spruce Biosciences (SPRB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$85.27M
Dividend YieldN/A
Average Volume (3M)988.68K
Price to Earnings (P/E)―
Beta (1Y)-10.13
Revenue Growth-90.18%
EPS Growth-17.93%
CountryUS
Employees20
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-8.73
Shares Outstanding1,372,043
10 Day Avg. Volume2,922,716
30 Day Avg. Volume988,676
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-0.13
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit2.25K
Enterprise Value/Ebitda0.32
Forecast
1Y Price Target
$217.67Price Target Upside250.23% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-32.34
Revenue Forecast (FY)N/A
Spruce Biosciences Business Overview & Revenue Model
Company Description
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 r...
How the Company Makes Money
Spruce Biosciences has historically generated little to no recurring revenue from product sales because it is/has been a clinical-stage biotechnology company without an established commercial product portfolio. Its cash inflows have primarily come...
Spruce Biosciences Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
56
Neutral
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 4.91M | 10.09M | 0.00 | 0.00 |
| Gross Profit | -21.00K | 4.91M | 10.09M | 0.00 | 0.00 |
| EBITDA | -36.51M | -52.68M | -47.37M | -45.69M | -41.88M |
| Net Income | -38.97M | -53.04M | -47.92M | -46.18M | -42.29M |
Balance Sheet | |||||
| Total Assets | 53.02M | 45.21M | 103.95M | 85.65M | 126.49M |
| Cash, Cash Equivalents and Short-Term Investments | 48.91M | 38.75M | 96.34M | 79.08M | 88.97M |
| Total Debt | 736.00K | 2.77M | 4.61M | 6.32M | 6.53M |
| Total Liabilities | 10.51M | 16.39M | 27.44M | 17.16M | 15.12M |
| Stockholders Equity | 42.52M | 28.82M | 76.51M | 68.49M | 111.37M |
Cash Flow | |||||
| Free Cash Flow | -33.33M | -55.96M | -33.28M | -41.69M | -35.97M |
| Operating Cash Flow | -33.33M | -55.96M | -33.27M | -41.68M | -35.88M |
| Investing Cash Flow | 0.00 | 0.00 | 55.78M | 23.69M | -79.17M |
| Financing Cash Flow | 43.48M | -1.62M | 49.14M | -241.00K | 643.00K |
Spruce Biosciences Technical Analysis
Negative
62.15
Price Trends
65.70
Negative
77.17
Negative
59.51
Positive
Market Momentum
0.44
Negative
48.09
Neutral
38.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SPRB, the sentiment is Negative. The current price of 62.15 is below the 20-day moving average (MA) of 63.14, below the 50-day MA of 65.70, and above the 200-day MA of 59.51, indicating a neutral trend. The MACD of 0.44 indicates Negative momentum. The RSI at 48.09 is Neutral, neither overbought nor oversold. The STOCH value of 38.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SPRB.
Spruce Biosciences Risk Analysis
Spruce Biosciences disclosed 76 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 |
|---|---|---|---|---|---|---|---|
52 Neutral | $154.79M | ― | -96.96% | ― | -99.07% | -10347.56% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $75.68M | -3.10 | 15.86% | ― | -0.32% | 94.05% | |
50 Neutral | $73.73M | -2.21 | 240.83% | ― | -49.17% | 23.37% | |
47 Neutral | $85.27M | -1.71 | -305.39% | ― | -90.18% | -17.93% | |
47 Neutral | $155.25M | -8.55 | -1197.81% | ― | ― | 30.16% | |
41 Neutral | $53.13M | -0.74 | -33.05% | ― | -100.00% | 45.48% |
* Healthcare Sector Average
SPRB
Spruce Biosciences
62.15
40.02
180.84%
IMUX
Immunic
1.19
0.27
28.79%
FBIO
Fortress Biotech
2.35
0.90
62.07%
CLNN
Clene
6.26
3.26
108.67%
DTIL
Precision BioSciences
6.26
1.71
37.58%
IMA
ImageneBio
4.75
-8.45
-64.02%
Spruce Biosciences Corporate Events
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresPrivate Placements and Financing
Spruce Biosciences Ends Kaken Collaboration, Refocuses Pipeline
Positive
Mar 20, 2026
On March 16, 2026, Spruce Biosciences agreed with Kaken Pharmaceutical to terminate their January 2023 collaboration covering tildacerfont for congenital adrenal hyperplasia in Japan, effective March 31, 2026, ending all licenses and rights and el...
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresPrivate Placements and Financing
Spruce Biosciences Updates ATM Agreement, Strengthens Leadership Team
Positive
Mar 9, 2026
On March 9, 2026, Spruce Biosciences entered a new open market sale agreement with Jefferies to allow at-the-market issuances of common stock under an existing shelf registration, replacing a prior 2022 sales agreement and providing additional fin...
Business Operations and StrategyProduct-Related Announcements
Spruce Biosciences Highlights Promising Long-Term Tralesinidase Data
Positive
Feb 5, 2026
On February 5, 2026, Spruce Biosciences reported long-term clinical data presented at the 22nd Annual WORLDSymposium showing that its investigational tralesinidase alfa enzyme replacement therapy (TA-ERT) produced rapid and durable reductions in h...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Spruce Biosciences Secures $50 Million Term Loan Facility
Positive
Jan 8, 2026
On January 7, 2026, Spruce Biosciences entered into a loan facility of up to $50 million with Avenue Venture Opportunities Fund II, L.P., featuring an initial $15 million tranche to be funded around January 9, 2026 and additional milestone-based t...
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.