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A Business Review Of ARS Pharmaceuticals Inc. (NASDAQ: SPRY) And Growth Forecast

In the last trading session, 1.12 million shares of the ARS Pharmaceuticals Inc. (NASDAQ:SPRY) were traded. Most recently the company’s share price was $8.40, and it changed around -$0.69 or -7.59% from the last close, which brings the market valuation of the company to $718.62M. SPRY currently trades at a discount to its 52-week high of $9.65, offering almost -14.88% off that amount. The share price’s 52-week low was $3.12, which indicates that the current value has risen by an impressive 62.86% since then. We note from ARS Pharmaceuticals Inc.’s average daily trading volume that its 10-day average is 7.09 million shares, with the 3-month average coming to 1.41 million.

ARS Pharmaceuticals Inc. stock received a consensus recommendation rating of a Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 3 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended SPRY as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. ARS Pharmaceuticals Inc. is expected to report earnings per share of -$0.18 for the current quarter.

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ARS Pharmaceuticals Inc. (NASDAQ:SPRY) trade information

Instantly SPRY has showed a red trend with a performance of -7.59% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 9.27 on Tuesday, 05/23/23 increased the stock’s daily price by 9.39%. The company’s shares are currently down -1.52% year-to-date, but still up 2.82% over the last five days. On the other hand, ARS Pharmaceuticals Inc. (NASDAQ:SPRY) is 28.44% up in the 30-day period. We can see from the shorts that 3.12 million shares have been sold at a short interest cover period of 10.27 day(s).

The consensus price target as assigned by Wall Street analysts is $16.67, which translates to bulls needing to increase their stock price by 49.61% from its current value. Analyst projections state that SPRY is forecast to be at a low of $14.00 and a high of $19.00. In order for the stock price to hit the forecast high, the stock would need to plunge -126.19% from its current level, while the stock would need to crash -66.67% from its current level to reach the projected low.

ARS Pharmaceuticals Inc. (SPRY) estimates and forecasts

ARS Pharmaceuticals Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 38.84 percent over the past six months and at a 13.79% annual growth rate that is well above the industry average of 13.30%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 67.30% in revenue this quarter, and will report an increase of 58.00% in the next quarter. The year-over-year growth rate is expected to be 495.70%, up from the previous year.

3 analysts expect ARS Pharmaceuticals Inc. to make $2.91 million in revenue for the quarter ending Sep 2023.

SPRY Dividends

ARS Pharmaceuticals Inc.’s next quarterly earnings report is expected to be released around August 09 and August 14.

ARS Pharmaceuticals Inc. (NASDAQ:SPRY)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 34.43% of ARS Pharmaceuticals Inc. shares, and 56.08% of them are in the hands of institutional investors. The stock currently has a share float of 85.53%. ARS Pharmaceuticals Inc. stock is held by 104 institutions, with Deerfield Management Company, L.P. (Series C) being the largest institutional investor. By Mar 30, 2023, it held 11.69% of the shares, which is about 11.08 million shares worth $72.12 million.

Orbimed Advisors LLC., with 9.22% or 8.74 million shares worth $56.9 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Fidelity Select Portfolios – Biotechnology and Fidelity Growth Company Fund were the top two Mutual Funds as of Feb 27, 2023. The former held 1.54 million shares worth $13.75 million, making up 1.63% of all outstanding shares. On the other hand, Fidelity Growth Company Fund held roughly 1.33 million shares worth around $11.89 million, which represents about 1.41% of the total shares outstanding.

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