Spruce Biosciences (SPRB)
NASDAQ:SPRB
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Spruce Biosciences
(NASDAQ:SPRB)
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Rating:47Neutral
Price Target:
$51.00
▼(-27.45% Downside)
Action:Reiterated
Date:05/14/26
The score is held down primarily by weak financial performance (no recent revenue, persistent losses, and continued cash burn) and a bearish technical trend. Offsetting factors include low leverage and recent capital raises that strengthen liquidity/runway, but valuation signals are not meaningful given the provided P/E and missing dividend yield.
Positive Factors
Balance sheet strength / low leverage
Very low debt relative to equity reduces interest burden and financial distress risk, giving management optionality to fund clinical programs via non-debt means. For a clinical-stage biotech this durable strength supports R&D continuity, partnership negotiations, and operational flexibility over the next 2–6 months.
Negative Factors
Persistent cash burn and no revenue
Sustained negative operating and free cash flow combined with zero recent product revenue means the business cannot self-fund development. This structural cash deficit increases execution risk for clinical programs and heightens reliance on capital markets, which can delay timelines or force concessions if financing conditions tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength / low leverage
Very low debt relative to equity reduces interest burden and financial distress risk, giving management optionality to fund clinical programs via non-debt means. For a clinical-stage biotech this durable strength supports R&D continuity, partnership negotiations, and operational flexibility over the next 2–6 months.
Read all positive factors
Spruce Biosciences (SPRB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$142.82M
Dividend YieldN/A
Average Volume (3M)988.68K
Price to Earnings (P/E)―
Beta (1Y)-10.18
Revenue Growth-100.00%
EPS Growth61.98%
CountryUS
Employees20
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-37.60
Shares Outstanding2,752,278
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 Cap0.16
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda-0.65
Forecast
1Y Price Target
$154.17Price Target Upside119.30% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-22.85
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
As a clinical-stage biotechnology company, Spruce Biosciences has not had a stable, recurring revenue base from marketed products; its operations have primarily been funded through external financing rather than product revenue (e.g., raising capi...
Spruce Biosciences Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
28
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 | -36.20M | -38.85M | -52.68M | -47.37M | -45.69M | -41.88M |
| Net Income | -37.19M | -38.97M | -53.04M | -47.92M | -46.18M | -42.29M |
Balance Sheet | ||||||
| Total Assets | 56.17M | 53.02M | 45.21M | 103.95M | 85.65M | 126.49M |
| Cash, Cash Equivalents and Short-Term Investments | 54.08M | 48.91M | 38.75M | 96.34M | 79.08M | 88.97M |
| Total Debt | 7.12M | 736.00K | 2.77M | 4.61M | 6.32M | 6.53M |
| Total Liabilities | 21.52M | 10.51M | 16.39M | 27.44M | 17.16M | 15.12M |
| Stockholders Equity | 34.65M | 42.52M | 28.82M | 76.51M | 68.49M | 111.37M |
Cash Flow | ||||||
| Free Cash Flow | -29.34M | -33.33M | -55.96M | -33.28M | -41.69M | -35.97M |
| Operating Cash Flow | -29.33M | -33.33M | -55.96M | -33.27M | -41.68M | -35.88M |
| Investing Cash Flow | -10.00K | 0.00 | 0.00 | 55.78M | 23.69M | -79.17M |
| Financing Cash Flow | 57.81M | 43.48M | -1.62M | 49.14M | -241.00K | 643.00K |
Spruce Biosciences Technical Analysis
Neutral
70.30
Price Trends
56.44
Negative
61.57
Negative
70.84
Negative
Market Momentum
-1.83
Negative
49.27
Neutral
35.94
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 70.3 is above the 20-day moving average (MA) of 50.48, above the 50-day MA of 56.44, and below the 200-day MA of 70.84, indicating a neutral trend. The MACD of -1.83 indicates Negative momentum. The RSI at 49.27 is Neutral, neither overbought nor oversold. The STOCH value of 35.94 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 |
|---|---|---|---|---|---|---|---|
59 Neutral | $188.79M | -4.01 | -220.75% | ― | ― | 38.59% | |
55 Neutral | $92.02M | 0.68 | 163.88% | ― | 14.50% | ― | |
52 Neutral | $74.63M | -2.03 | 233.93% | ― | -61.71% | -11.47% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | $157.39M | -1.76 | -81.24% | ― | -11.87% | -86.91% | |
48 Neutral | $66.37M | -1.40 | -35.20% | ― | ― | 49.30% | |
47 Neutral | $142.82M | -1.91 | -155.40% | ― | -100.00% | 61.98% |
* Healthcare Sector Average
SPRB
Spruce Biosciences
51.89
46.33
833.27%
IMUX
Immunic
13.86
5.65
68.92%
FBIO
Fortress Biotech
2.77
0.93
50.54%
CLNN
Clene
5.84
1.42
32.13%
DTIL
Precision BioSciences
6.10
0.91
17.53%
IMA
ImageneBio
5.62
-11.30
-66.78%
Spruce Biosciences Corporate Events
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...
Business Operations and StrategyPrivate Placements and Financing
Spruce Biosciences Prices Equity Offering to Raise Capital
Positive
Apr 22, 2026
On April 20, 2026, Spruce Biosciences entered into an underwriting agreement with a syndicate led by Leerink Partners, Guggenheim Securities and Oppenheimer to sell 1,150,000 shares of common stock at $50.00 per share and 50,000 pre-funded warrant...
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...
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.