William Blair Issues Optimistic Estimate for SPRY Earnings

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) – Equities researchers at William Blair boosted their FY2024 earnings per share estimates for shares of ARS Pharmaceuticals in a research note issued to investors on Wednesday, November 13th. William Blair analyst L. Hanbury-Brown now expects that the company will post earnings of ($0.17) per share for the year, up from their previous estimate of ($0.63). William Blair has a “Strong-Buy” rating on the stock. The consensus estimate for ARS Pharmaceuticals’ current full-year earnings is ($0.56) per share. William Blair also issued estimates for ARS Pharmaceuticals’ Q4 2024 earnings at $0.26 EPS, Q1 2025 earnings at ($0.26) EPS, Q2 2025 earnings at ($0.18) EPS, Q3 2025 earnings at ($0.09) EPS, FY2025 earnings at ($0.47) EPS and FY2026 earnings at $0.94 EPS.

Several other equities analysts have also recently weighed in on SPRY. Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $18.00 to $22.00 in a report on Tuesday, August 13th. Leerink Partners raised their price objective on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $24.00.

ARS Pharmaceuticals Stock Performance

Shares of SPRY stock opened at $13.79 on Monday. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -27.04 and a beta of 0.90. ARS Pharmaceuticals has a one year low of $4.64 and a one year high of $18.51. The company’s 50-day moving average is $14.72 and its 200 day moving average is $11.81.

Insider Transactions at ARS Pharmaceuticals

In related news, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the sale, the insider now directly owns 5,693 shares in the company, valued at approximately $79,702. The trade was a 63.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder James E. Flynn sold 528,456 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $18.04, for a total value of $9,533,346.24. Following the completion of the transaction, the insider now directly owns 5,274,735 shares of the company’s stock, valued at approximately $95,156,219.40. This represents a 9.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,004,151 shares of company stock valued at $16,030,966 in the last 90 days. 40.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

A number of hedge funds have recently modified their holdings of SPRY. Vanguard Group Inc. grew its position in ARS Pharmaceuticals by 37.0% in the 1st quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock valued at $29,500,000 after acquiring an additional 779,969 shares in the last quarter. SG Americas Securities LLC increased its stake in ARS Pharmaceuticals by 861.5% during the 2nd quarter. SG Americas Securities LLC now owns 111,592 shares of the company’s stock worth $950,000 after buying an additional 99,986 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in ARS Pharmaceuticals during the 3rd quarter worth approximately $2,584,000. Bank of New York Mellon Corp boosted its position in ARS Pharmaceuticals by 99.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 139,285 shares of the company’s stock valued at $1,185,000 after buying an additional 69,394 shares during the period. Finally, Royce & Associates LP grew its stake in shares of ARS Pharmaceuticals by 7.1% in the third quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock worth $10,026,000 after acquiring an additional 45,755 shares in the last quarter. 68.16% of the stock is currently owned by hedge funds and other institutional investors.

About ARS Pharmaceuticals

ARS Pharmaceuticals, Inc, a biopharmaceutical company, develops treatments for severe allergic reactions. The company is developing neffy, a needle-free and low-dose intranasal epinephrine nasal spray for the emergency treatment of Type I allergic reactions, including anaphylaxis. It serves healthcare professionals, patients, and caregivers.