Leerink Partnrs Issues Pessimistic Outlook for SPRY Earnings

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) – Stock analysts at Leerink Partnrs reduced their FY2028 earnings per share estimates for shares of ARS Pharmaceuticals in a report issued on Thursday, March 20th. Leerink Partnrs analyst R. Ruiz now anticipates that the company will post earnings per share of $1.57 for the year, down from their prior estimate of $1.70. The consensus estimate for ARS Pharmaceuticals’ current full-year earnings is ($0.55) per share.

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

SPRY has been the subject of several other research reports. Scotiabank started coverage on shares of ARS Pharmaceuticals in a research note on Friday, March 7th. They set a “sector outperform” rating and a $30.00 price target for the company. Raymond James lifted their target price on ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 14th. Leerink Partners increased their price target on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. William Blair restated an “outperform” rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Finally, Oppenheimer initiated coverage on shares of ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an “outperform” rating and a $40.00 price objective for the company. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $31.00.

ARS Pharmaceuticals Price Performance

Shares of SPRY opened at $13.15 on Monday. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -25.78 and a beta of 1.03. ARS Pharmaceuticals has a 1-year low of $7.55 and a 1-year high of $18.51. The company has a 50-day moving average of $12.13 and a 200 day moving average of $13.07.

Hedge Funds Weigh In On ARS Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Alliancebernstein L.P. increased its stake in 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 purchasing an additional 3,807,074 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of ARS Pharmaceuticals by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company’s stock valued at $36,555,000 after buying an additional 115,656 shares during the last quarter. State Street Corp increased its position in shares of ARS Pharmaceuticals by 10.4% in the 3rd quarter. State Street Corp now owns 2,049,542 shares of the company’s stock valued at $29,718,000 after acquiring an additional 193,321 shares during the period. Alyeska Investment Group L.P. raised its stake in ARS Pharmaceuticals by 903.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company’s stock worth $13,227,000 after acquiring an additional 1,128,724 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in ARS Pharmaceuticals by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,238,156 shares of the company’s stock worth $13,066,000 after acquiring an additional 3,351 shares during the last quarter. Institutional investors and hedge funds own 68.16% of the company’s stock.

Insider Transactions at ARS Pharmaceuticals

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