William Blair Analysts Boost Earnings Estimates for ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) – Investment analysts at William Blair upped their FY2024 earnings per share estimates for shares of ARS Pharmaceuticals in a research report issued on Thursday, September 26th. William Blair analyst L. Hanbury-Brown now expects that the company will post earnings per share of ($0.68) for the year, up from their previous estimate 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 research analysts have also issued reports 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. Raymond James raised shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $18.00 to $22.00 in a report on Tuesday, August 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a research report on Monday, September 16th. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $24.00.

ARS Pharmaceuticals Trading Down 0.3 %

Shares of NASDAQ SPRY opened at $14.46 on Monday. ARS Pharmaceuticals has a 12-month low of $3.35 and a 12-month high of $16.50. The stock has a 50 day simple moving average of $12.49 and a 200-day simple moving average of $10.33.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several hedge funds have recently made changes to their positions in SPRY. J.W. Cole Advisors Inc. grew its position in ARS Pharmaceuticals by 10.8% during the 2nd 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 in the last quarter. Levin Capital Strategies L.P. raised its position 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 valued at $565,000 after buying an additional 3,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in ARS Pharmaceuticals by 151.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock valued at $63,000 after buying an additional 4,472 shares during the period. Russell Investments Group Ltd. purchased a new stake in ARS Pharmaceuticals in the 1st quarter worth about $60,000. Finally, FAS Wealth Partners Inc. boosted its position in ARS Pharmaceuticals by 11.9% during the 2nd quarter. FAS Wealth Partners Inc. now owns 67,656 shares of the company’s stock worth $576,000 after acquiring an additional 7,186 shares during the period. Hedge funds and other institutional investors own 68.16% of the company’s stock.

Insider Buying and Selling at ARS Pharmaceuticals

In related news, COO Brian Dorsey sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $15.00, for a total value of $750,000.00. Following the sale, the chief operating officer now directly owns 6,024 shares in the company, valued at approximately $90,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ARS Pharmaceuticals news, insider Sarina Tanimoto sold 100,000 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $9.62, for a total transaction of $962,000.00. Following the completion of the sale, the insider now directly owns 1,496,494 shares of the company’s stock, valued at $14,396,272.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brian Dorsey sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now owns 6,024 shares of the company’s stock, valued at $90,360. The disclosure for this sale can be found here. In the last three months, insiders sold 1,043,395 shares of company stock valued at $13,650,032. 40.10% of the stock is owned by 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.