William Blair Has Positive Outlook for SPRY FY2024 Earnings

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) – Investment analysts at William Blair upped their FY2024 earnings estimates for ARS Pharmaceuticals in a research note issued to investors on Wednesday, November 13th. William Blair analyst L. Hanbury-Brown now forecasts that the company will earn ($0.17) per share for the year, up from their previous forecast 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 research analysts also recently weighed in on SPRY. Raymond James upgraded shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $18.00 to $22.00 in a research note on Tuesday, August 13th. Leerink Partners increased their target price on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $24.00.

ARS Pharmaceuticals Price Performance

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 company has a market capitalization of $1.34 billion, a PE ratio of -27.02 and a beta of 0.90. The company has a fifty day moving average of $14.67 and a two-hundred day moving average of $11.78.

Institutional Investors Weigh In On ARS Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in SPRY. SG Americas Securities LLC acquired a new stake in ARS Pharmaceuticals in the first quarter valued at about $119,000. Russell Investments Group Ltd. purchased a new position in ARS Pharmaceuticals in the first quarter valued at about $60,000. Vanguard Group Inc. increased its holdings in ARS Pharmaceuticals by 37.0% in the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock valued at $29,500,000 after buying an additional 779,969 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in ARS Pharmaceuticals in the first quarter valued at about $172,000. Finally, Paloma Partners Management Co purchased a new position in ARS Pharmaceuticals in the first quarter valued at about $103,000. Institutional investors and hedge funds own 68.16% of the company’s stock.

Insider Transactions at ARS Pharmaceuticals

In related 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 value of $5,528,412.00. Following the completion of the sale, the director now owns 544,677 shares in the company, valued at $7,385,820.12. This trade represents a 42.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 owns 5,693 shares of the company’s stock, valued at approximately $79,702. The trade was a 63.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,411,851 shares of company stock worth $21,559,378. Company 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.