FY2024 EPS Estimates for SPRY Cut by Cantor Fitzgerald

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) – Cantor Fitzgerald cut their FY2024 earnings estimates for ARS Pharmaceuticals in a research report issued on Wednesday, December 4th. Cantor Fitzgerald analyst J. Schimmer now anticipates that the company will post earnings of ($0.76) per share for the year, down from their previous forecast of ($0.42). Cantor Fitzgerald has a “Overweight” rating and a $30.00 price objective on the stock. The consensus estimate for ARS Pharmaceuticals’ current full-year earnings is ($0.50) per share.

Several other equities research analysts also recently weighed in on the company. Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $18.00 to $22.00 in a research report on Tuesday, August 13th. William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Finally, Leerink Partners lifted their price objective on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, ARS Pharmaceuticals has an average rating of “Buy” and a consensus target price of $24.00.

ARS Pharmaceuticals Trading Up 0.1 %

Shares of ARS Pharmaceuticals stock opened at $14.02 on Friday. The company has a fifty day moving average price of $14.80 and a 200 day moving average price of $12.18. ARS Pharmaceuticals has a twelve month low of $5.01 and a twelve month high of $18.51. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -28.16 and a beta of 0.88.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. J.W. Cole Advisors Inc. lifted its stake in ARS Pharmaceuticals by 10.8% during the second quarter. J.W. Cole Advisors Inc. now owns 15,400 shares of the company’s stock worth $131,000 after purchasing an additional 1,500 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of ARS Pharmaceuticals in the 3rd quarter valued at about $30,000. Creative Planning grew its position in shares of ARS Pharmaceuticals by 7.0% during the 3rd 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 last quarter. HighTower Advisors LLC raised its stake in ARS Pharmaceuticals by 18.2% during 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 during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in ARS Pharmaceuticals by 151.7% in the second 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 last quarter. Institutional investors and hedge funds own 68.16% of the company’s stock.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, insider Eric Karas sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $14.00, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder James E. Flynn sold 528,456 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 5,274,735 shares in the company, valued at $95,156,219.40. The trade was a 9.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,115,786 shares of company stock worth $17,683,286 in the last 90 days. 40.10% of the stock is owned by corporate 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.