William Blair Has Strong Estimate for SPRY FY2024 Earnings

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) – William Blair increased their FY2024 earnings per share estimates for ARS Pharmaceuticals in a research note issued on Tuesday, January 21st. William Blair analyst L. Hanbury-Brown now expects that the company will post earnings of ($0.16) per share for the year, up from their prior estimate of ($0.17). The consensus estimate for ARS Pharmaceuticals’ current full-year earnings is ($0.58) per share. William Blair also issued estimates for ARS Pharmaceuticals’ FY2025 earnings at ($0.44) EPS.

Other analysts have also issued reports about the stock. Leerink Partners increased their price target on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price objective on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Finally, Raymond James lifted their target price 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. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $26.00.

ARS Pharmaceuticals Trading Up 2.5 %

Shares of NASDAQ SPRY opened at $13.89 on Thursday. ARS Pharmaceuticals has a one year low of $6.13 and a one year high of $18.51. The business has a 50-day moving average price of $12.45 and a two-hundred day moving average price of $12.94. The firm has a market capitalization of $1.35 billion, a PE ratio of -27.24 and a beta of 0.96.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Barclays PLC grew its holdings in ARS Pharmaceuticals by 189.7% during the third quarter. Barclays PLC now owns 111,666 shares of the company’s stock valued at $1,618,000 after purchasing an additional 73,127 shares during the last quarter. First Turn Management LLC bought a new stake in shares of ARS Pharmaceuticals during the 3rd quarter worth $8,603,000. Royce & Associates LP grew its stake in ARS Pharmaceuticals by 7.1% in the 3rd quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock valued at $10,026,000 after buying an additional 45,755 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in ARS Pharmaceuticals in the 3rd quarter valued at $2,584,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in ARS Pharmaceuticals by 766.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 234,537 shares of the company’s stock worth $3,401,000 after acquiring an additional 207,456 shares during the period. 68.16% of the stock is owned by institutional investors.

Insider Activity at ARS Pharmaceuticals

In related news, COO Brian Dorsey sold 25,000 shares of ARS Pharmaceuticals stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $12.30, for a total value of $307,500.00. Following the completion of the sale, the chief operating officer now owns 6,024 shares of the company’s stock, valued at approximately $74,095.20. The trade was a 80.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder James E. Flynn sold 528,456 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now owns 5,274,735 shares of the company’s stock, valued at $95,156,219.40. This represents a 9.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,095,558 shares of company stock valued at $16,853,686. 40.10% of the stock is owned by corporate insiders.

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.