FY2023 Earnings Estimate for ARS Pharmaceuticals, Inc. Issued By Wedbush (NASDAQ:SPRY)

Posted by Defense World Staff on Sep 25th, 2023

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY – Free Report) – Research analysts at Wedbush lowered their FY2023 earnings estimates for shares of ARS Pharmaceuticals in a report released on Thursday, September 21st. Wedbush analyst A. Argyrides now anticipates that the company will post earnings per share of ($0.73) for the year, down from their previous forecast of ($0.69). Wedbush has a “Outperform” rating and a $5.00 price objective on the stock. The consensus estimate for ARS Pharmaceuticals’ current full-year earnings is ($0.71) per share. Wedbush also issued estimates for ARS Pharmaceuticals’ Q4 2023 earnings at ($0.20) EPS, FY2024 earnings at ($1.00) EPS, FY2025 earnings at ($0.94) EPS, FY2026 earnings at ($0.91) EPS and FY2027 earnings at ($0.73) EPS.

ARS Pharmaceuticals (NASDAQ:SPRY – Get Free Report) last released its earnings results on Thursday, August 10th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.01). The business had revenue of $0.01 million for the quarter.

SPRY has been the topic of several other reports. SVB Leerink lowered shares of ARS Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday. Leerink Partnrs lowered shares of ARS Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday. Finally, William Blair downgraded shares of ARS Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 20th.

View Our Latest Stock Analysis on SPRY

ARS Pharmaceuticals Price Performance

SPRY stock opened at $3.96 on Monday. ARS Pharmaceuticals has a 12 month low of $2.55 and a 12 month high of $9.65. The company’s 50-day moving average price is $6.86 and its two-hundred day moving average price is $6.84.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in SPRY. SR One Capital Management LP acquired a new stake in ARS Pharmaceuticals during the 1st quarter worth approximately $26,124,000. BlackRock Inc. acquired a new stake in ARS Pharmaceuticals during the 2nd quarter worth approximately $15,148,000. Baker BROS. Advisors LP acquired a new stake in ARS Pharmaceuticals during the 1st quarter worth approximately $13,062,000. Sectoral Asset Management Inc. acquired a new position in shares of ARS Pharmaceuticals in the 2nd quarter worth approximately $8,413,000. Finally, Geode Capital Management LLC acquired a new position in shares of ARS Pharmaceuticals in the 1st quarter worth approximately $2,627,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ra Capital Management, L.P. purchased 3,750,000 shares of ARS Pharmaceuticals stock in a transaction dated Tuesday, August 29th. The shares were bought at an average cost of $6.20 per share, for a total transaction of $23,250,000.00. Following the purchase, the director now owns 5,856,774 shares in the company, valued at approximately $36,311,998.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other ARS Pharmaceuticals news, Director Ra Capital Management, L.P. bought 3,750,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average cost of $6.20 per share, for a total transaction of $23,250,000.00. Following the transaction, the director now directly owns 5,856,774 shares in the company, valued at $36,311,998.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Laura Shawver sold 100,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $7.71, for a total transaction of $771,000.00. Following the sale, the director now owns 210,346 shares in the company, valued at $1,621,767.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 215,208 shares of company stock worth $1,552,313. Corporate insiders own 35.60% of the company’s stock.

About ARS Pharmaceuticals

(Get Free Report)

ARS Pharmaceuticals, Inc, a biopharmaceutical company, develops treatments for patients and parents affected by severe allergic reactions. It is developing neffy, a needle-free and low-dose intranasal epinephrine nasal spray for patients and their caregivers with type I allergic reactions, including anaphylaxis.