HC Wainwright Cuts Earnings Estimates for Spruce Biosciences

Spruce Biosciences, Inc. (NASDAQ:SPRB) – Investment analysts at HC Wainwright reduced their Q3 2026 earnings estimates for shares of Spruce Biosciences in a research report issued to clients and investors on Wednesday, August 26th. HC Wainwright analyst R. Selvaraju now expects that the company will post earnings of ($5.13) per share for the quarter, down from their prior estimate of ($4.81). HC Wainwright currently has a “Buy” rating on the stock. The consensus estimate for Spruce Biosciences’ current full-year earnings is ($25.14) per share. HC Wainwright also issued estimates for Spruce Biosciences’ Q4 2026 earnings at ($4.38) EPS, FY2026 earnings at ($23.32) EPS, Q1 2027 earnings at ($3.68) EPS, Q2 2027 earnings at ($3.37) EPS, Q3 2027 earnings at ($2.13) EPS and FY2027 earnings at ($8.52) EPS.

Spruce Biosciences (NASDAQ:SPRB) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($6.68) EPS for the quarter, missing analysts’ consensus estimates of ($5.79) by ($0.89).

A number of other analysts have also issued reports on the stock. Oppenheimer reiterated an “outperform” rating on shares of Spruce Biosciences in a research note on Wednesday, May 27th. Citigroup reiterated a “market outperform” rating on shares of Spruce Biosciences in a report on Thursday, August 13th. B. Riley Financial started coverage on shares of Spruce Biosciences in a research report on Monday, July 13th. They issued a “buy” rating and a $160.00 price target for the company. The Goldman Sachs Group raised Spruce Biosciences to an “overweight” rating in a research report on Thursday, August 13th. Finally, Citizens Jmp reduced their price objective on Spruce Biosciences from $150.00 to $144.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 13th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Spruce Biosciences has a consensus rating of “Moderate Buy” and an average price target of $159.50.

Spruce Biosciences Price Performance

SPRB stock opened at $63.30 on Friday. The business’s fifty day moving average price is $49.66 and its 200 day moving average price is $55.45. Spruce Biosciences has a 12-month low of $7.00 and a 12-month high of $240.00. The company has a current ratio of 9.23, a quick ratio of 9.23 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $181.67 million, a PE ratio of -1.59 and a beta of 3.23.

Hedge Funds Weigh In On Spruce Biosciences

Several hedge funds have recently added to or reduced their stakes in the stock. AWM Investment Company Inc. acquired a new stake in Spruce Biosciences during the second quarter worth approximately $7,937,000. Ikarian Capital LLC boosted its holdings in shares of Spruce Biosciences by 810.3% in the 4th quarter. Ikarian Capital LLC now owns 121,356 shares of the company’s stock valued at $10,571,000 after buying an additional 108,024 shares in the last quarter. Squadron Capital Management LLC acquired a new position in shares of Spruce Biosciences in the 4th quarter valued at $6,098,000. Wellington Management Group LLP purchased a new position in shares of Spruce Biosciences in the 4th quarter valued at $5,135,000. Finally, ADAR1 Capital Management LLC purchased a new position in shares of Spruce Biosciences in the 4th quarter valued at $5,052,000. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

About Spruce Biosciences

Spruce Biosciences, Inc is a clinical-stage biopharmaceutical company dedicated to developing therapies for rare endocrine and dermatological disorders. Headquartered in San Diego, California, Spruce focuses on conditions with significant unmet medical needs, employing a precision medicine approach to identify and advance treatment candidates through late-stage clinical trials.

The company’s lead asset, tildacerfont, is an oral corticotropin-releasing factor type 1 (CRF1) receptor antagonist being evaluated for the treatment of congenital adrenal hyperplasia (CAH), a genetic disorder characterized by insufficient cortisol production and excess androgen levels.