Symbols / SPRB Stock $54.37 +0.67% Spruce Biosciences, Inc.

Healthcare • Biotechnology • United States • NCM
SPRB (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Healthcare
Industry Biotechnology
CEO Dr. Javier Szwarcberg M.D., M.P.H.
Exch · Country NCM · United States
Market Cap 146.92M
Enterprise Value 26.43M
Income -38.97M
Sales —
FCF (ttm) -16.67M
Book/sh 30.99
Cash/sh 35.65
Employees 8
Insider 10d —
IPO Oct 09, 2020
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E —
Forward P/E -9.73
PEG —
P/S —
P/B 1.75
P/C —
EV/EBITDA -0.92
EV/Sales —
Quick Ratio 5.11
Current Ratio 5.17
Debt/Eq 1.73
LT Debt/Eq —
EPS (ttm) -50.83
EPS next Y -5.59
EPS Growth —
Revenue Growth —
EPS Gr Q/Q —
Rev Gr Q/Q —
Earnings (next) 2026-03-09
Earnings (prior) 2026-03-09
ROA -36.41%
ROE -109.24%
ROIC —
Gross Margin 0.00%
Oper. Margin 0.00%
Profit Margin 0.00%
Shs Outstand 2.70M
Shs Float 1.32M
Insider Own 3.61%
Instit Own 34.37%
Short Float 13.44%
Short Ratio 3.41
Short Interest 180.54K
52W High 838.12
vs 52W High -93.51%
52W Low 7.00
vs 52W Low 676.71%
Beta 3.68
Impl. Vol. —
Rel Volume 0.98
Avg Volume 60.66K
Volume 59.45K
Target (mean) $198.25
Tgt Median $185.00
Tgt Low $140.00
Tgt High $283.00
# Analysts 4
Recom None
Prev Close $54.01
Price $54.37
Change 0.67%
About

Spruce Biosciences, Inc. is a biopharmaceutical company focused on developing and commercializing novel therapies for neurological disorders. The company develops TA-ERT, a fusion protein comprised of recombinant human alpha-N-acetylglucosaminidase, which is an enzyme replacement therapy for patients with Sanfilippo Syndrome Type B. It also develops Tildacerfont for treating a highly debilitating mental disorder characterized by depressed mood with cognitive-affective and somatic changes, including anhedonia, weight alterations, and altered sleeping patterns. In addition, the company develops SPR202 for the treatment of Congenital Adrenal Hyperplasia (CAH), a chronic and potentially life-threatening rare disease with no cure. The company has a license agreement with Eli Lilly and Company to research, develop, and commercialize various pharmaceutical compounds. It also has a collaboration and license agreement with Kaken Pharmaceutical Co. Ltd. to develop, manufacture, and commercialize Tildacerfont for the treatment of CAH in Japan. Spruce Biosciences, Inc. was incorporated in 2014 and is headquartered in South San Francisco, California.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$198.25
Mean price target
2. Current target
$54.37
Latest analyst target
3. DCF / Fair value
$-111.04
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$54.37
Low
$140.00
High
$283.00
Mean
$198.25

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-10 main Citizens Market Outperform → Market Outperform $170
2026-03-10 reit HC Wainwright & Co. Buy → Buy $200
2026-02-19 main HC Wainwright & Co. Buy → Buy $200
2025-12-23 init Oppenheimer — → Outperform $283
2025-12-03 up Leerink Partners Market Perform → Outperform $160
2025-11-11 main Citizens Market Outperform → Market Outperform $259
2025-10-28 up JMP Securities Market Perform → Market Outperform $254
2025-10-21 main Leerink Partners Market Perform → Market Perform $160
2025-04-16 main RBC Capital Sector Perform → Sector Perform $1
2024-12-16 reit HC Wainwright & Co. Neutral → Neutral —
2024-12-12 reit Guggenheim Neutral → Neutral —
2024-12-11 down JMP Securities Market Outperform → Market Perform $3
2024-12-11 reit RBC Capital Sector Perform → Sector Perform $2
2024-12-11 down Oppenheimer Outperform → Perform —
2024-11-12 reit RBC Capital Sector Perform → Sector Perform $2
2024-08-19 reit HC Wainwright & Co. — → Neutral —
2024-08-13 reit RBC Capital Sector Perform → Sector Perform $2
2024-06-13 main Oppenheimer Outperform → Outperform $3
2024-06-05 reit HC Wainwright & Co. — → Neutral —
2024-05-14 reit HC Wainwright & Co. — → Neutral —
News
RSS: Latest SPRB news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2025-12-31 SZWARCBERG JAVIER B M.D. Chief Executive Officer — 4,690 $87.11 $408,546
2025-12-15 GHARIB SAMIR M President — 1,009 — —
2025-12-15 SZWARCBERG JAVIER B M.D. Chief Executive Officer — 2,676 — —
2025-12-11 GHARIB SAMIR M President — 2,414 — —
2025-12-11 WAYS KIRK Officer and Director — 1,250 — —
2025-12-11 SZWARCBERG JAVIER B M.D. Chief Executive Officer — 6,146 — —
2025-10-20 GHARIB SAMIR M President — 2,053 — —
2025-10-20 SZWARCBERG JAVIER B M.D. Chief Executive Officer — 4,784 — —
2025-10-06 PARKMAN HEALTHCARE PARTNERS LLC Beneficial Owner of more than 10% of a Class of Security — 256 $130.40 $33,382
2025-10-06 PARKMAN HEALTHCARE PARTNERS LLC Beneficial Owner of more than 10% of a Class of Security — 257 $130.40 $33,513
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
0.00
-100.00%
4.91
-51.32%
10.09
0.00
Operating Revenue
0.00
-100.00%
4.91
-51.32%
10.09
0.00
Operating Expense
36.51
-40.20%
61.06
-1.64%
62.08
+31.30%
47.28
Research And Development
19.52
-57.94%
46.42
-6.10%
49.43
+40.44%
35.20
Selling General And Administration
16.99
+16.03%
14.64
+15.76%
12.65
+4.68%
12.09
General And Administrative Expense
16.99
+16.03%
14.64
+15.76%
12.65
+4.68%
12.09
Other Gand A
16.99
+16.03%
14.64
+15.76%
12.65
+4.68%
12.09
Total Expenses
36.51
-40.20%
61.06
-1.64%
62.08
+31.30%
47.28
Operating Income
-36.51
+34.97%
-56.15
-8.00%
-51.99
-9.96%
-47.28
Total Operating Income As Reported
-36.51
+34.97%
-56.15
-8.00%
-51.99
-9.96%
-47.28
EBITDA
-38.85
+26.25%
-52.68
-11.23%
-47.37
-3.68%
-45.69
Normalized EBITDA
-35.35
+32.89%
-52.68
-11.23%
-47.37
-3.68%
-45.69
Reconciled Depreciation
0.02
-54.35%
0.05
-34.29%
0.07
-5.41%
0.07
EBIT
-38.88
+26.27%
-52.73
-11.16%
-47.44
-3.66%
-45.76
Total Unusual Items
-3.50
—
—
—
Total Unusual Items Excluding Goodwill
-3.50
—
—
—
Net Income
-38.97
+26.53%
-53.04
-10.68%
-47.92
-3.77%
-46.18
Pretax Income
-38.97
+26.53%
-53.04
-10.68%
-47.92
-3.77%
-46.18
Net Non Operating Interest Income Expense
1.05
-66.39%
3.12
-23.54%
4.07
+269.36%
1.10
Interest Expense Non Operating
0.09
-70.68%
0.31
-36.44%
0.48
+15.00%
0.42
Net Interest Income
1.05
-66.39%
3.12
-23.54%
4.07
+269.36%
1.10
Interest Expense
0.09
-70.68%
0.31
-36.44%
0.48
+15.00%
0.42
Interest Income Non Operating
1.14
-66.77%
3.42
-24.91%
4.56
+199.21%
1.52
Interest Income
1.14
-66.77%
3.42
-24.91%
4.56
+199.21%
1.52
Other Income Expense
-3.50
—
—
—
Other Non Operating Income Expenses
—
—
—
—
Gain On Sale Of Security
-3.50
—
—
—
Tax Rate For Calcs
0.00
0.00
0.00
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
-38.97
+26.53%
-53.04
-10.68%
-47.92
-3.77%
-46.18
Net Income From Continuing Operation Net Minority Interest
-38.97
+26.53%
-53.04
-10.68%
-47.92
-3.77%
-46.18
Net Income From Continuing And Discontinued Operation
-38.97
+26.53%
-53.04
-10.68%
-47.92
-3.77%
-46.18
Net Income Continuous Operations
-38.97
+26.53%
-53.04
-10.68%
-47.92
-3.77%
-46.18
Normalized Income
-35.47
+33.13%
-53.04
-10.68%
-47.92
-3.77%
-46.18
Net Income Common Stockholders
-38.97
+26.53%
-53.04
-10.68%
-47.92
-3.77%
-46.18
Diluted EPS
—
-96.40
-3.66%
-93.00
+36.73%
-147.00
Basic EPS
—
-96.40
-3.66%
-93.00
+36.73%
-147.00
Basic Average Shares
—
0.55
+7.14%
0.51
+63.68%
0.31
Diluted Average Shares
—
0.55
+7.14%
0.51
+63.68%
0.31
Diluted NI Availto Com Stockholders
-38.97
+26.53%
-53.04
-10.68%
-47.92
-3.77%
-46.18
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
53.02
+17.28%
45.21
-56.51%
103.95
+21.36%
85.65
Current Assets
52.11
+17.88%
44.21
-56.74%
102.18
+22.22%
83.61
Cash Cash Equivalents And Short Term Investments
48.91
+26.20%
38.75
-59.77%
96.34
+21.83%
79.08
Cash And Cash Equivalents
48.91
+26.20%
38.75
-59.77%
96.34
+293.43%
24.49
Other Short Term Investments
—
—
0.00
-100.00%
54.59
Prepaid Assets
0.35
-88.89%
3.18
-18.03%
3.88
+16.75%
3.32
Other Current Assets
2.85
+25.35%
2.28
+15.65%
1.97
+62.51%
1.21
Total Non Current Assets
0.91
-9.37%
1.00
-43.11%
1.76
-13.58%
2.04
Net PPE
0.67
-28.69%
0.93
-20.91%
1.18
-15.64%
1.40
Gross PPE
0.67
-28.69%
0.93
-20.91%
1.18
-15.64%
1.40
Other Properties
0.67
-28.69%
0.93
-20.91%
1.18
-15.64%
1.40
Investments And Advances
—
—
—
0.00
Other Non Current Assets
0.24
+252.17%
0.07
-88.14%
0.58
-9.06%
0.64
Total Liabilities Net Minority Interest
10.51
-35.90%
16.39
-40.27%
27.44
+59.87%
17.16
Current Liabilities
10.09
-33.84%
15.25
-37.68%
24.46
+96.55%
12.45
Payables And Accrued Expenses
8.00
-35.83%
12.46
-14.55%
14.58
+55.11%
9.40
Payables
0.94
-27.18%
1.29
-61.13%
3.33
+133.66%
1.43
Accounts Payable
0.94
-27.18%
1.29
-61.13%
3.33
+133.66%
1.43
Current Accrued Expenses
7.05
-36.83%
11.16
-0.75%
11.25
+41.06%
7.97
Pensionand Other Post Retirement Benefit Plans Current
1.77
+101.13%
0.88
-71.56%
3.10
+141.14%
1.29
Current Debt And Capital Lease Obligation
0.32
-83.36%
1.91
+1.71%
1.87
+6.36%
1.76
Current Debt
—
1.62
+0.00%
1.62
+0.00%
1.62
Other Current Borrowings
—
1.62
+0.00%
1.62
+0.00%
1.62
Current Capital Lease Obligation
0.32
+12.01%
0.28
+12.75%
0.25
+80.58%
0.14
Current Deferred Liabilities
—
0.00
-100.00%
4.91
0.00
Current Deferred Revenue
—
0.00
-100.00%
4.91
0.00
Total Non Current Liabilities Net Minority Interest
0.42
-63.31%
1.14
-61.57%
2.97
-36.97%
4.71
Long Term Debt And Capital Lease Obligation
0.42
-51.28%
0.86
-68.57%
2.74
-39.92%
4.55
Long Term Debt
—
0.12
-92.78%
1.72
-47.86%
3.29
Long Term Capital Lease Obligation
0.42
-43.07%
0.74
-27.77%
1.02
-19.19%
1.26
Other Non Current Liabilities
—
0.28
+19.49%
0.24
+46.58%
0.16
Stockholders Equity
42.52
+47.52%
28.82
-62.33%
76.51
+11.71%
68.49
Common Stock Equity
42.52
+47.52%
28.82
-62.33%
76.51
+11.71%
68.49
Capital Stock
0.00
0.00
-100.00%
0.00
+33.33%
0.00
Common Stock
0.00
0.00
-100.00%
0.00
+33.33%
0.00
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
1.37
+143.67%
0.56
+2.93%
0.55
+73.85%
0.31
Ordinary Shares Number
1.37
+143.67%
0.56
+2.93%
0.55
+73.85%
0.31
Additional Paid In Capital
331.75
+18.87%
279.09
+1.96%
273.74
+25.36%
218.35
Retained Earnings
-289.23
-15.57%
-250.27
-26.89%
-197.23
-32.09%
-149.31
Gains Losses Not Affecting Retained Earnings
—
—
0.00
+100.00%
-0.56
Other Equity Adjustments
—
—
—
-0.56
Total Equity Gross Minority Interest
42.52
+47.52%
28.82
-62.33%
76.51
+11.71%
68.49
Total Capitalization
42.52
+46.89%
28.95
-63.00%
78.23
+8.98%
71.78
Working Capital
42.03
+45.12%
28.96
-62.74%
77.72
+9.21%
71.16
Invested Capital
42.52
+39.09%
30.57
-61.72%
79.85
+8.78%
73.40
Total Debt
0.74
-73.38%
2.77
-40.01%
4.61
-27.02%
6.32
Capital Lease Obligations
0.74
-27.77%
1.02
-19.76%
1.27
-9.29%
1.40
Net Tangible Assets
42.52
+47.52%
28.82
-62.33%
76.51
+11.71%
68.49
Tangible Book Value
42.52
+47.52%
28.82
-62.33%
76.51
+11.71%
68.49
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
-33.33
+40.45%
-55.96
-68.19%
-33.27
+20.17%
-41.68
Cash Flow From Continuing Operating Activities
-33.33
+40.45%
-55.96
-68.19%
-33.27
+20.17%
-41.68
Net Income From Continuing Operations
-38.97
+26.53%
-53.04
-10.68%
-47.92
-3.77%
-46.18
Depreciation Amortization Depletion
0.02
-54.35%
0.05
-34.29%
0.07
-5.41%
0.07
Depreciation And Amortization
0.02
-54.35%
0.05
-34.29%
0.07
-5.41%
0.07
Other Non Cash Items
0.27
+8.50%
0.25
+7.39%
0.23
+158.23%
-0.40
Stock Based Compensation
2.57
-51.87%
5.35
+15.71%
4.62
+27.29%
3.63
Operating Gains Losses
3.50
+174900.00%
0.00
+0.00%
0.00
-94.87%
0.04
Gain Loss On Investment Securities
3.50
—
—
—
Gain Loss On Sale Of PPE
0.00
-100.00%
0.00
+0.00%
0.00
-94.87%
0.04
Change In Working Capital
-0.72
+91.55%
-8.57
-182.76%
10.36
+814.84%
1.13
Change In Prepaid Assets
2.45
+525.83%
0.39
+114.83%
-2.64
-222.64%
-0.82
Change In Payables And Accrued Expense
-2.85
+33.75%
-4.31
-152.79%
8.16
+272.65%
2.19
Change In Accrued Expense
-2.50
-10.17%
-2.27
-136.31%
6.25
+74.38%
3.59
Change In Payable
-0.35
+82.72%
-2.04
-206.87%
1.91
+236.44%
-1.40
Change In Account Payable
-0.35
+82.72%
-2.04
-206.87%
1.91
+236.44%
-1.40
Change In Other Working Capital
—
-4.91
-200.00%
4.91
—
Change In Other Current Assets
0.00
-100.00%
0.49
+414.58%
0.10
+6.67%
0.09
Change In Other Current Liabilities
-0.32
-33.76%
-0.24
-34.66%
-0.18
+46.83%
-0.33
Investing Cash Flow
—
0.00
-100.00%
55.78
+135.43%
23.69
Cash Flow From Continuing Investing Activities
—
0.00
-100.00%
55.78
+135.43%
23.69
Net PPE Purchase And Sale
—
0.00
+100.00%
-0.01
+12.50%
-0.01
Purchase Of PPE
—
0.00
+100.00%
-0.01
+12.50%
-0.01
Capital Expenditure
—
—
-0.01
+12.50%
-0.01
Net Investment Purchase And Sale
—
0.00
-100.00%
55.78
+135.38%
23.70
Purchase Of Investment
—
0.00
+100.00%
-11.88
+67.71%
-36.80
Sale Of Investment
—
0.00
-100.00%
67.67
+11.84%
60.50
Financing Cash Flow
43.48
+2780.70%
-1.62
-103.30%
49.14
+20490.04%
-0.24
Cash Flow From Continuing Financing Activities
43.48
+2780.70%
-1.62
-103.30%
49.14
+20490.04%
-0.24
Net Issuance Payments Of Debt
-2.06
-26.82%
-1.62
+0.00%
-1.62
0.00
Issuance Of Debt
—
—
—
0.00
Repayment Of Debt
-2.06
-26.82%
-1.62
+0.00%
-1.62
0.00
Long Term Debt Issuance
—
—
—
0.00
Long Term Debt Payments
-2.06
-26.82%
-1.62
+0.00%
-1.62
0.00
Net Long Term Debt Issuance
-2.06
-26.82%
-1.62
+0.00%
-1.62
0.00
Net Common Stock Issuance
50.00
0.00
-100.00%
53.62
0.00
Proceeds From Stock Option Exercised
0.07
-71.54%
0.25
+38.20%
0.18
+128.21%
0.08
Net Other Financing Charges
-4.53
-1742.28%
-0.25
+91.89%
-3.03
-850.47%
-0.32
Changes In Cash
10.15
+117.63%
-57.59
-180.38%
71.64
+492.95%
-18.23
Beginning Cash Position
38.79
-59.75%
96.37
+289.67%
24.73
-42.44%
42.96
End Cash Position
48.94
+26.18%
38.79
-59.75%
96.37
+289.67%
24.73
Free Cash Flow
-33.33
+40.45%
-55.96
-68.15%
-33.28
+20.17%
-41.69
Interest Paid Supplemental Data
0.07
-69.78%
0.23
-39.02%
0.37
+38.72%
0.27
Amortization Of Securities
—
0.00
+100.00%
-0.64
-4075.00%
0.02
Common Stock Issuance
50.00
0.00
-100.00%
53.62
0.00
Issuance Of Capital Stock
50.00
0.00
-100.00%
53.62
0.00
Net Preferred Stock Issuance
—
—
—
—
Preferred Stock Issuance
—
—
—
—
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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