Spruce Biosciences Inc reports results for the quarter ended in December - Earnings Summary

Spruce Biosciences

14/03/2024 12:00

* Spruce Biosciences Inc  SPRB.OQ  reported a quarterly
adjusted
loss of 24 cents​​ per share for the quarter ended in December,
higher than the same quarter last year, when the company
reported EPS of -47 cents.  The mean expectation of
seven analysts for the quarter was for a loss of 39 cents per
share. Wall Street expected results to range from -50 cents
to -32 cents per share.
    * Revenue was $2.89 million​; analysts expected $1.40
million. 
    * Spruce Biosciences Inc's reported EPS for the quarter was
a loss
of 24 cents​.
    * The company reported a quarterly loss of $9.95 million.
    * Spruce Biosciences Inc shares had risen by 77.1% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.7%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is also "buy"

Wall Street's median 12-month price target for Spruce
Biosciences Inc is $5.00 
This summary was machine generated from LSEG data March 14 at
11:59 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      -0.39          -0.24          Beat
 Sep. 30 2023      -0.35          -0.30          Beat
 Jun. 30 2023      -0.39          -0.32          Beat
 Mar. 31 2023      -0.36          -0.40          Missed