FY2024 EPS Estimates for SPRY Decreased by Cantor Fitzgerald

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) – Cantor Fitzgerald reduced their FY2024 earnings per share estimates for shares of ARS Pharmaceuticals in a report released on Wednesday, December 4th. Cantor Fitzgerald analyst J. Schimmer now anticipates that the company will earn ($0.76) per share for the year, down from their previous estimate of ($0.42). Cantor Fitzgerald currently has a “Overweight” rating and a $30.00 target price on the stock. The consensus estimate for ARS Pharmaceuticals’ current full-year earnings is ($0.50) per share.

SPRY has been the subject of a number of other reports. Raymond James upgraded ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $18.00 to $22.00 in a research note on Tuesday, August 13th. William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Leerink Partners upped their price target on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $24.00.

ARS Pharmaceuticals Price Performance

Shares of SPRY stock opened at $14.00 on Friday. The firm has a fifty day moving average of $14.80 and a two-hundred day moving average of $12.18. The firm has a market cap of $1.36 billion, a P/E ratio of -27.45 and a beta of 0.88. ARS Pharmaceuticals has a 1-year low of $5.01 and a 1-year high of $18.51.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, major shareholder James E. Flynn sold 528,456 shares of ARS Pharmaceuticals 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 transaction, the insider now owns 5,274,735 shares in the company, valued at approximately $95,156,219.40. The trade was a 9.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kathleen D. Scott sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was 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 4,949 shares of the company’s stock, valued at $79,184. The trade was a 71.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,065,786 shares of company stock valued at $16,971,786. 40.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of ARS Pharmaceuticals during the 3rd quarter valued at about $30,000. 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 acquiring an additional 4,472 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in ARS Pharmaceuticals in the second quarter valued at approximately $87,000. Quarry LP bought a new stake in ARS Pharmaceuticals in the third quarter worth approximately $174,000. Finally, TFG Advisers LLC acquired a new position in shares of ARS Pharmaceuticals during the 3rd quarter worth $180,000. 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.