William Blair Has Bullish Forecast for SPRY FY2024 Earnings

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) – Stock analysts at William Blair raised their FY2024 earnings estimates for shares of ARS Pharmaceuticals in a research note issued on Wednesday, November 13th. William Blair analyst L. Hanbury-Brown now expects that the company will earn ($0.17) per share for the year, up from their prior 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 analysts have also recently issued reports on SPRY. Raymond James raised shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $18.00 to $22.00 in a research note on Tuesday, August 13th. Leerink Partners increased their target price on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of ARS Pharmaceuticals in a research note 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $24.00.

ARS Pharmaceuticals Trading Down 0.7 %

ARS Pharmaceuticals stock opened at $14.01 on Monday. The firm has a market capitalization of $1.36 billion, a P/E ratio of -27.47 and a beta of 0.90. ARS Pharmaceuticals has a 52 week low of $4.28 and a 52 week high of $18.51. The stock has a fifty day moving average price of $14.63 and a 200 day moving average price of $11.75.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, major shareholder James E. Flynn sold 528,456 shares of the stock in a transaction on Monday, November 11th. The stock was 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kathleen D. Scott sold 12,500 shares of ARS Pharmaceuticals stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $16.00, for a total transaction of $200,000.00. Following the sale, the chief financial officer now owns 4,949 shares in the company, valued at approximately $79,184. This represents a 71.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,574,351 shares of company stock valued at $24,012,378 in the last ninety days. Company insiders own 40.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SPRY. nVerses Capital LLC acquired a new stake in shares of ARS Pharmaceuticals in the third quarter worth $30,000. Russell Investments Group Ltd. purchased a new stake in shares of ARS Pharmaceuticals during the 1st quarter worth about $60,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of ARS Pharmaceuticals by 151.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock valued at $63,000 after buying an additional 4,472 shares during the last quarter. Principal Financial Group Inc. bought a new stake in ARS Pharmaceuticals in the second quarter worth approximately $87,000. Finally, Paloma Partners Management Co bought a new stake in shares of ARS Pharmaceuticals during the 1st quarter worth about $103,000. Institutional investors and hedge funds own 68.16% 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.