FY2024 EPS Estimates for ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Lifted by William Blair

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) – Equities researchers at William Blair lifted their FY2024 EPS estimates for ARS Pharmaceuticals in a note issued to investors on Thursday, September 26th. William Blair analyst L. Hanbury-Brown now expects that the company will post earnings per share of ($0.68) for the year, up from their previous forecast of ($0.71). William Blair has a “Strong-Buy” rating on the stock. The consensus estimate for ARS Pharmaceuticals’ current full-year earnings is ($0.66) per share. William Blair also issued estimates for ARS Pharmaceuticals’ Q4 2024 earnings at ($0.25) EPS, Q1 2025 earnings at ($0.24) EPS, Q2 2025 earnings at ($0.15) EPS, Q3 2025 earnings at ($0.09) EPS, Q4 2025 earnings at ($0.04) EPS and FY2025 earnings at ($0.52) EPS.

Several other research firms also recently issued reports on SPRY. Leerink Partners increased their price objective on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a research report on Monday, September 16th. Finally, Raymond James upgraded shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $18.00 to $22.00 in a research report on Tuesday, August 13th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $24.00.

ARS Pharmaceuticals Stock Down 1.3 %

SPRY opened at $14.32 on Monday. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -27.54 and a beta of 0.90. ARS Pharmaceuticals has a 52-week low of $3.35 and a 52-week high of $16.50. The firm’s fifty day simple moving average is $12.33 and its two-hundred day simple moving average is $10.26.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The business had revenue of $0.50 million for the quarter, compared to analyst estimates of $2.00 million.

Insider Activity

In other news, insider Sarina Tanimoto sold 100,000 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $9.62, for a total value of $962,000.00. Following the completion of the sale, the insider now directly owns 1,496,494 shares in the company, valued at $14,396,272.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Eric Karas sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $14.00, for a total transaction of $140,000.00. Following the completion of the sale, the insider now directly owns 5,693 shares in the company, valued at $79,702. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sarina Tanimoto sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $9.62, for a total transaction of $962,000.00. Following the sale, the insider now owns 1,496,494 shares of the company’s stock, valued at $14,396,272.28. The disclosure for this sale can be found here. Insiders sold 1,043,395 shares of company stock worth $13,650,032 over the last three months. Insiders own 40.10% of the company’s stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of SPRY. Russell Investments Group Ltd. acquired a new stake in ARS Pharmaceuticals during the first quarter worth about $60,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ARS Pharmaceuticals by 151.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock valued at $63,000 after acquiring an additional 4,472 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of ARS Pharmaceuticals during the second quarter valued at about $87,000. Paloma Partners Management Co acquired a new stake in shares of ARS Pharmaceuticals during the first quarter valued at about $103,000. Finally, SG Americas Securities LLC acquired a new stake in shares of ARS Pharmaceuticals during the first quarter valued at about $119,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

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.