Research Analysts Set Expectations for SPRY FY2024 Earnings

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) – Equities research analysts at Leerink Partnrs decreased their FY2024 earnings estimates for ARS Pharmaceuticals in a research report issued on Wednesday, November 13th. Leerink Partnrs analyst R. Ruiz now anticipates that the company will post earnings of ($0.70) per share for the year, down from their prior forecast 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.

Other equities research analysts have also issued research reports about the stock. Raymond James upgraded shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $18.00 to $22.00 in a report on Tuesday, August 13th. William Blair upgraded shares of ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Leerink Partners boosted their price target 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price objective on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, ARS Pharmaceuticals has an average rating of “Buy” and a consensus price target of $24.00.

ARS Pharmaceuticals Price Performance

SPRY stock opened at $13.78 on Monday. ARS Pharmaceuticals has a 52-week low of $4.64 and a 52-week high of $18.51. The company’s 50 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 P/E ratio of -27.02 and a beta of 0.90.

Institutional Trading of ARS Pharmaceuticals

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

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, CEO Richard E. Lowenthal sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $12.93, for a total value of $1,293,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,398,499 shares of the company’s stock, valued at $18,082,592.07. The trade was a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder James E. Flynn sold 528,456 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $18.04, for a total transaction of $9,533,346.24. Following the completion of the sale, the insider now directly owns 5,274,735 shares of the company’s stock, valued at $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. In the last quarter, insiders have sold 1,411,851 shares of company stock worth $21,559,378. 40.10% of the stock is currently owned by company insiders.

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.