Cantor Fitzgerald Brokers Reduce Earnings Estimates for SPRY

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) – Equities research analysts at Cantor Fitzgerald decreased their FY2025 earnings per share (EPS) estimates for ARS Pharmaceuticals in a note issued to investors on Monday, March 24th. Cantor Fitzgerald analyst J. Schimmer now anticipates that the company will post earnings per share of ($1.21) for the year, down from their previous forecast of ($1.02). The consensus estimate for ARS Pharmaceuticals’ current full-year earnings is ($0.55) per share.

A number of other equities analysts have also weighed in on SPRY. Oppenheimer assumed coverage on ARS Pharmaceuticals in a research report on Monday, February 10th. They set an “outperform” rating and a $40.00 target price on the stock. Raymond James raised their price objective on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 14th. Scotiabank assumed coverage on shares of ARS Pharmaceuticals in a research report on Friday, March 7th. They set a “sector outperform” rating and a $30.00 target price for the company. William Blair reaffirmed an “outperform” rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Finally, Leerink Partners lifted their price target on ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ARS Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $31.00.

ARS Pharmaceuticals Stock Performance

SPRY stock opened at $12.60 on Wednesday. ARS Pharmaceuticals has a fifty-two week low of $7.55 and a fifty-two week high of $18.51. The stock’s 50 day simple moving average is $12.14 and its 200 day simple moving average is $13.07. The company has a market cap of $1.22 billion, a P/E ratio of -24.71 and a beta of 1.03.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings results on Thursday, March 20th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.56. The company had revenue of $86.58 million during the quarter, compared to analyst estimates of $15.46 million.

Insider Activity

In other ARS Pharmaceuticals news, insider Eric Karas sold 10,000 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the transaction, the insider now owns 7,696 shares in the company, valued at $107,744. This represents a 56.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Laura Shawver sold 50,000 shares of ARS Pharmaceuticals stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.10, for a total value of $555,000.00. Following the sale, the director now owns 210,346 shares in the company, valued at $2,334,840.60. The trade was a 19.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,600 shares of company stock worth $1,866,516 over the last quarter. Insiders own 40.10% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. grew its position in shares of ARS Pharmaceuticals by 5,168.4% during the 4th quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company’s stock valued at $40,942,000 after acquiring an additional 3,807,074 shares during the period. Alyeska Investment Group L.P. lifted its stake in ARS Pharmaceuticals by 903.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company’s stock valued at $13,227,000 after purchasing an additional 1,128,724 shares during the last quarter. Raymond James Financial Inc. bought a new position in ARS Pharmaceuticals during the fourth quarter valued at $6,576,000. Millennium Management LLC increased its position in ARS Pharmaceuticals by 93.0% in the fourth quarter. Millennium Management LLC now owns 939,278 shares of the company’s stock worth $9,909,000 after buying an additional 452,532 shares during the last quarter. Finally, Peregrine Capital Management LLC bought a new stake in shares of ARS Pharmaceuticals in the fourth quarter valued at $4,469,000. Hedge funds and other institutional investors own 68.16% 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.