ARS Pharmaceuticals (NASDAQ:SPRY) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of ARS Pharmaceuticals (NASDAQ:SPRY) from a strong sell rating to a hold rating in a report issued on Wednesday morning,Zacks.com reports.

Several other research firms have also recently weighed in on SPRY. Weiss Ratings reissued a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research note on Wednesday, January 21st. Roth Mkm started coverage on shares of ARS Pharmaceuticals in a research note on Tuesday, November 4th. They issued a “buy” rating and a $30.00 price target for the company. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.67.

ARS Pharmaceuticals Stock Up 1.1%

NASDAQ:SPRY opened at $9.34 on Wednesday. The firm has a market capitalization of $923.26 million, a price-to-earnings ratio of -11.53 and a beta of 0.79. ARS Pharmaceuticals has a twelve month low of $6.66 and a twelve month high of $18.90. The stock’s 50 day moving average price is $10.45 and its two-hundred day moving average price is $10.42. The company has a quick ratio of 6.51, a current ratio of 6.66 and a debt-to-equity ratio of 1.14.

Hedge Funds Weigh In On ARS Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPRY. Rubric Capital Management LP raised its position in shares of ARS Pharmaceuticals by 37.8% in the fourth quarter. Rubric Capital Management LP now owns 6,200,000 shares of the company’s stock valued at $72,230,000 after purchasing an additional 1,700,000 shares during the period. Aberdeen Group plc boosted its holdings in shares of ARS Pharmaceuticals by 14.8% during the 4th quarter. Aberdeen Group plc now owns 3,556,049 shares of the company’s stock worth $41,428,000 after buying an additional 459,027 shares during the period. Vanguard Group Inc. grew its stake in ARS Pharmaceuticals by 7.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,500,303 shares of the company’s stock valued at $35,178,000 after buying an additional 237,630 shares during the last quarter. State Street Corp grew its stake in ARS Pharmaceuticals by 11.3% in the 4th quarter. State Street Corp now owns 3,223,581 shares of the company’s stock valued at $37,555,000 after buying an additional 328,325 shares during the last quarter. Finally, Millennium Management LLC bought a new position in ARS Pharmaceuticals in the 4th quarter valued at about $36,912,000. 68.16% of the stock is owned by institutional investors.

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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.