Leerink Partnrs Analysts Reduce Earnings Estimates for SPRY

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) – Equities researchers at Leerink Partnrs reduced their FY2027 earnings per share (EPS) estimates for ARS Pharmaceuticals in a note issued to investors on Wednesday, November 13th. Leerink Partnrs analyst R. Ruiz now anticipates that the company will earn $0.55 per share for the year, down from their previous estimate of $0.60. The consensus estimate for ARS Pharmaceuticals’ current full-year earnings is ($0.64) per share.

SPRY has been the subject of a number of other research reports. William Blair upgraded shares of ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. Raymond James raised shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $18.00 to $22.00 in a research report on Tuesday, August 13th. Finally, Leerink Partners boosted their price objective on ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $24.00.

ARS Pharmaceuticals Stock Down 0.7 %

Shares of NASDAQ:SPRY opened at $14.01 on Friday. ARS Pharmaceuticals has a twelve month low of $4.28 and a twelve month high of $18.51. The stock’s 50 day moving average is $14.63 and its 200-day moving average is $11.71. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -27.47 and a beta of 0.90.

Institutional Trading of ARS Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in SPRY. nVerses Capital LLC purchased a new stake in shares of ARS Pharmaceuticals during the 3rd quarter worth approximately $30,000. Russell Investments Group Ltd. bought a new position in ARS Pharmaceuticals during the first quarter valued at $60,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in ARS Pharmaceuticals by 151.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock worth $63,000 after buying an additional 4,472 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in ARS Pharmaceuticals in the second quarter worth $87,000. Finally, Paloma Partners Management Co purchased a new position in shares of ARS Pharmaceuticals during the 1st quarter valued at $103,000. Institutional investors own 68.16% of the company’s stock.

Insiders Place Their Bets

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 sale, the insider now directly owns 5,274,735 shares in the company, valued at $95,156,219.40. The trade was a 9.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric Karas sold 10,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $14.00, for a total transaction of $140,000.00. Following the transaction, the insider now owns 5,693 shares of the company’s stock, valued at approximately $79,702. The trade was a 63.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,584,351 shares of company stock valued at $24,152,378. 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.