ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Forecasted to Post FY2024 Earnings of ($0.68) Per Share

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) – Equities researchers at William Blair lifted their FY2024 earnings per share (EPS) estimates for shares of ARS Pharmaceuticals in a research report issued to clients and investors on Thursday, September 26th. William Blair analyst L. Hanbury-Brown now forecasts that the company will post earnings per share of ($0.68) for the year, up from their prior forecast of ($0.71). William Blair currently 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.

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

A number of other analysts have also recently weighed in on SPRY. Leerink Partners boosted their price target on ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a research 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 report on Monday, September 16th. Finally, Raymond James upgraded shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $18.00 to $22.00 in a report on Tuesday, August 13th. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $24.00.

ARS Pharmaceuticals Stock Performance

ARS Pharmaceuticals stock opened at $14.46 on Monday. ARS Pharmaceuticals has a 1-year low of $3.35 and a 1-year high of $16.50. The firm’s fifty day simple moving average is $12.49 and its 200-day simple moving average is $10.33.

Insider Buying and Selling at ARS Pharmaceuticals

In related news, CEO Richard E. Lowenthal sold 100,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $11.40, for a total transaction of $1,140,000.00. Following the sale, the chief executive officer now directly owns 1,547,447 shares in the company, valued at approximately $17,640,895.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Peter A. Thompson sold 407,700 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $13.56, for a total value of $5,528,412.00. Following the transaction, the director now owns 544,677 shares in the company, valued at $7,385,820.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard E. Lowenthal sold 100,000 shares of ARS Pharmaceuticals stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $11.40, for a total value of $1,140,000.00. Following the completion of the sale, the chief executive officer now owns 1,547,447 shares of the company’s stock, valued at $17,640,895.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,043,395 shares of company stock valued at $13,650,032. 40.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. bought a new stake in shares of ARS Pharmaceuticals during the first quarter worth approximately $60,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in ARS Pharmaceuticals by 151.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock worth $63,000 after acquiring an additional 4,472 shares during the period. Principal Financial Group Inc. bought a new stake in shares of ARS Pharmaceuticals during the 2nd quarter valued at $87,000. Paloma Partners Management Co acquired a new position in shares of ARS Pharmaceuticals in the 1st quarter valued at $103,000. Finally, SG Americas Securities LLC bought a new position in shares of ARS Pharmaceuticals in the 1st quarter worth $119,000. Institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Company Profile

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.