What is Leerink Partnrs’ Forecast for SPRY FY2024 Earnings?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) – Equities researchers at Leerink Partnrs lowered their FY2024 EPS estimates for shares of ARS Pharmaceuticals in a report issued on Wednesday, November 13th. Leerink Partnrs analyst R. Ruiz now expects that the company will earn ($0.70) per share for the year, down from their prior estimate 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 research analysts have also recently issued research reports about the stock. William Blair raised shares of ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price target on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. 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. Finally, Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $18.00 to $22.00 in a research note 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $24.00.

ARS Pharmaceuticals Stock Performance

Shares of SPRY opened at $14.01 on Monday. ARS Pharmaceuticals has a one year low of $4.28 and a one year high of $18.51. The stock has a market cap of $1.36 billion, a P/E ratio of -27.47 and a beta of 0.90. The stock has a 50-day moving average of $14.63 and a two-hundred day moving average of $11.75.

Insiders Place Their Bets

In other ARS Pharmaceuticals news, COO Brian Dorsey sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $15.00, for a total transaction of $750,000.00. Following the completion of the sale, the chief operating officer now directly owns 6,024 shares of the company’s stock, valued at $90,360. This represents a 89.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder James E. Flynn sold 528,456 shares of ARS Pharmaceuticals stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $18.04, for a total value of $9,533,346.24. Following the completion of the sale, the insider now owns 5,274,735 shares in the company, valued at approximately $95,156,219.40. This trade represents a 9.11 % 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. Insiders own 40.10% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of SPRY. J.W. Cole Advisors Inc. raised its stake in shares of ARS Pharmaceuticals by 10.8% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 15,400 shares of the company’s stock valued at $131,000 after purchasing an additional 1,500 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of ARS Pharmaceuticals during the third quarter valued at approximately $30,000. Creative Planning lifted its holdings in shares of ARS Pharmaceuticals by 7.0% in the third quarter. Creative Planning now owns 35,263 shares of the company’s stock valued at $511,000 after buying an additional 2,307 shares during the period. Levin Capital Strategies L.P. grew its holdings in ARS Pharmaceuticals by 5.7% during the first quarter. Levin Capital Strategies L.P. now owns 55,250 shares of the company’s stock worth $565,000 after acquiring an additional 3,000 shares during the period. Finally, HighTower Advisors LLC raised its position in ARS Pharmaceuticals by 18.2% in the third quarter. HighTower Advisors LLC now owns 28,310 shares of the company’s stock worth $411,000 after acquiring an additional 4,369 shares in the last quarter. Institutional investors and hedge funds 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.