What is William Blair's Forecast for SPRY FY2024 Earnings?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) - Stock analysts at William Blair raised their FY2024 EPS estimates for shares of ARS Pharmaceuticals in a note issued to investors on Wednesday, November 13th. William Blair analyst L. Hanbury-Brown now expects that the company will post earnings of ($0.17) per share for the year, up from their previous estimate of ($0.63). William Blair currently has a "Strong-Buy" rating on the stock. The consensus estimate for ARS Pharmaceuticals' current full-year earnings is ($0.56) per share. William Blair also issued estimates for ARS Pharmaceuticals' Q4 2024 earnings at $0.26 EPS, Q1 2025 earnings at ($0.26) EPS, Q2 2025 earnings at ($0.18) EPS, Q3 2025 earnings at ($0.09) EPS, FY2025 earnings at ($0.47) EPS and FY2026 earnings at $0.94 EPS.

Several other equities research analysts have also recently commented on the stock. Leerink Partners boosted their price target on shares of 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 ARS Pharmaceuticals from an "outperform" rating to a "strong-buy" rating and raised their price target for the stock from $18.00 to $22.00 in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $24.00.

ARS Pharmaceuticals Stock Performance

Shares of ARS Pharmaceuticals stock traded down $0.23 during trading hours on Monday, reaching $13.78. The company's stock had a trading volume of 1,056,668 shares, compared to its average volume of 812,128. The company's 50 day simple moving average is $14.67 and its 200 day simple moving average is $11.78. ARS Pharmaceuticals has a one year low of $4.64 and a one year high of $18.51. The stock has a market cap of $1.34 billion, a P/E ratio of -27.02 and a beta of 0.90.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, CEO Richard E. Lowenthal sold 100,000 shares of the business's stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $15.03, for a total value of $1,503,000.00. Following the sale, the chief executive officer now directly owns 1,497,447 shares of the company's stock, valued at approximately $22,506,628.41. The trade was a 6.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kathleen D. Scott sold 12,500 shares of the business's stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $16.00, for a total value of $200,000.00. Following the sale, the chief financial officer now owns 13,199 shares of the company's stock, valued at approximately $211,184. This represents a 48.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,574,351 shares of company stock valued at $24,012,378. Company insiders own 40.10% of the company's stock.

Institutional Trading of ARS Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in SPRY. Vanguard Group Inc. raised its stake in ARS Pharmaceuticals by 37.0% in the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company's stock valued at $29,500,000 after buying an additional 779,969 shares during the last quarter. SG Americas Securities LLC grew its position in ARS Pharmaceuticals by 861.5% during the 2nd quarter. SG Americas Securities LLC now owns 111,592 shares of the company's stock worth $950,000 after purchasing an additional 99,986 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in ARS Pharmaceuticals during the 3rd quarter valued at approximately $2,584,000. Bank of New York Mellon Corp raised its holdings in shares of ARS Pharmaceuticals by 99.3% in the second quarter. Bank of New York Mellon Corp now owns 139,285 shares of the company's stock worth $1,185,000 after buying an additional 69,394 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in shares of ARS Pharmaceuticals by 7.1% during the third quarter. Royce & Associates LP now owns 691,455 shares of the company's stock worth $10,026,000 after buying an additional 45,755 shares during the period. 68.16% of the stock is owned by hedge funds and other institutional investors.

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.