Research Analysts Set Expectations for SPRY FY2024 Earnings

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) – Equities researchers at Leerink Partnrs dropped their FY2024 EPS estimates for shares of ARS Pharmaceuticals in a research note issued on Wednesday, November 13th. Leerink Partnrs analyst R. Ruiz now forecasts that the company will post earnings per share of ($0.70) for the year, down from their prior estimate of ($0.60). The consensus estimate for ARS Pharmaceuticals’ current full-year earnings is ($0.56) per share. Leerink Partnrs also issued estimates for ARS Pharmaceuticals’ Q4 2024 earnings at ($0.27) EPS, FY2025 earnings at $0.70 EPS and FY2026 earnings at $0.05 EPS.

A number of other research firms have also issued reports on SPRY. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. William Blair upgraded shares of ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Raymond James upgraded shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $18.00 to $22.00 in a research report on Tuesday, August 13th. Finally, Leerink Partners raised their price target on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, ARS Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $24.00.

ARS Pharmaceuticals Trading Down 1.6 %

NASDAQ:SPRY opened at $13.78 on Monday. ARS Pharmaceuticals has a 1 year low of $4.64 and a 1 year high of $18.51. The firm’s fifty day simple moving average is $14.67 and its 200 day simple moving average is $11.78. The firm has a market capitalization of $1.34 billion, a PE ratio of -27.02 and a beta of 0.90.

Hedge Funds Weigh In On ARS Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. RA Capital Management L.P. lifted its holdings in shares of ARS Pharmaceuticals by 14.8% during the 1st quarter. RA Capital Management L.P. now owns 10,860,977 shares of the company’s stock worth $110,999,000 after acquiring an additional 1,401,299 shares during the period. Vanguard Group Inc. lifted its holdings in ARS Pharmaceuticals by 37.0% during the 1st quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock valued at $29,500,000 after purchasing an additional 779,969 shares during the last quarter. State Street Corp lifted its holdings in ARS Pharmaceuticals by 10.4% during the 3rd quarter. State Street Corp now owns 2,049,542 shares of the company’s stock valued at $29,718,000 after purchasing an additional 193,321 shares during the last quarter. Geode Capital Management LLC lifted its holdings in ARS Pharmaceuticals by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company’s stock valued at $17,909,000 after purchasing an additional 38,927 shares during the last quarter. Finally, Royce & Associates LP lifted its holdings in ARS Pharmaceuticals by 7.1% during the 3rd quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock valued at $10,026,000 after purchasing an additional 45,755 shares during the last quarter. 68.16% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Peter A. Thompson sold 407,700 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $13.56, for a total transaction of $5,528,412.00. Following the completion of the transaction, the director now directly owns 544,677 shares of the company’s stock, valued at approximately $7,385,820.12. This trade represents a 42.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sarina Tanimoto sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.88, for a total transaction of $1,488,000.00. Following the transaction, the insider now directly owns 1,298,499 shares of the company’s stock, valued at $19,321,665.12. The trade was a 7.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,411,851 shares of company stock worth $21,559,378 in the last ninety days. Insiders own 40.10% of the company’s stock.

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.