Spruce Biosciences Inc reports results for the quarter ended September 30 - Earnings Summary

Spruce Biosciences

11/11/2024 15:31

* Spruce Biosciences Inc  SPRB.OQ  reported a quarterly
adjusted
loss of 21 cents​​ per share for the quarter ended September 30,
higher than the same quarter last year, when the company
reported EPS of -30 cents.  The mean expectation of
seven analysts for the quarter was for a loss of 24 cents per
share. Wall Street expected results to range from -29 cents
to -19 cents per share.
    * Revenue fell 80.4% to $602.00 thousand from a year ago;
analysts
expected $1.49 million. 
    * Spruce Biosciences Inc's reported EPS for the quarter was
a loss
of 21 cents​.
    * The company reported a quarterly loss of $8.67 million.
    * Spruce Biosciences Inc shares had risen by 12.8% this
quarter and lost 81.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 19.3%
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 "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 5
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is also "hold"

Wall Street's median 12-month price target for Spruce
Biosciences Inc is $2.50 
This summary was machine generated from LSEG data November 11 at
03:31 p.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
 Sep. 30 2024      -0.24          -0.21          Beat
 Jun. 30 2024      -0.32          -0.22          Beat
 Mar. 31 2024      -0.29          -0.28          Beat
 Dec. 31 2023      -0.39          -0.24          Beat