Leerink Partnrs Has Pessimistic View of SPRY FY2028 Earnings

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) – Leerink Partnrs lowered their FY2028 EPS estimates for shares of ARS Pharmaceuticals in a research note issued on Thursday, March 20th. Leerink Partnrs analyst R. Ruiz now forecasts that the company will post earnings of $1.57 per share 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.

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

ARS Pharmaceuticals Stock Up 2.0 %

NASDAQ SPRY opened at $13.15 on Monday. The company has a 50-day moving average price of $12.13 and a 200-day moving average price of $13.07. ARS Pharmaceuticals has a 52 week low of $7.55 and a 52 week high of $18.51. The firm has a market capitalization of $1.28 billion, a P/E ratio of -25.78 and a beta of 1.03.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings data on Thursday, March 20th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.56. The firm had revenue of $86.58 million during the quarter, compared to the consensus estimate of $15.46 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in ARS Pharmaceuticals in the third quarter worth $1,120,000. Intech Investment Management LLC purchased a new position in shares of ARS Pharmaceuticals in the 3rd quarter worth $239,000. Charles Schwab Investment Management Inc. increased its holdings in shares of ARS Pharmaceuticals by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 423,947 shares of the company’s stock worth $6,147,000 after buying an additional 8,417 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of ARS Pharmaceuticals by 121.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 46,854 shares of the company’s stock valued at $679,000 after buying an additional 25,658 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of ARS Pharmaceuticals by 766.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 234,537 shares of the company’s stock valued at $3,401,000 after acquiring an additional 207,456 shares during the last quarter. 68.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Laura Shawver sold 50,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.31, for a total value of $615,500.00. Following the sale, the director now directly owns 210,346 shares in the company, valued at approximately $2,589,359.26. The trade was a 19.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Karas sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 7,696 shares of the company’s stock, valued at approximately $107,744. The trade was a 56.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 159,600 shares of company stock valued at $1,866,516. Corporate insiders own 40.10% of the company’s stock.

ARS Pharmaceuticals Company Profile

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.