ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives Consensus Rating of “Moderate Buy” from Brokerages

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has earned an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $28.60.

SPRY has been the subject of several analyst reports. Cantor Fitzgerald boosted their target price on shares of ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Leerink Partners set a $26.00 target price on shares of ARS Pharmaceuticals and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Northland Securities initiated coverage on shares of ARS Pharmaceuticals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $25.00 target price for the company. Weiss Ratings upgraded shares of ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Finally, Wall Street Zen upgraded shares of ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th.

ARS Pharmaceuticals Stock Performance

Shares of NASDAQ SPRY opened at $9.07 on Friday. The company has a current ratio of 4.94, a quick ratio of 4.77 and a debt-to-equity ratio of 2.79. ARS Pharmaceuticals has a 12 month low of $6.66 and a 12 month high of $18.90. The company has a 50 day simple moving average of $8.28 and a two-hundred day simple moving average of $9.25. The stock has a market cap of $900.65 million, a price-to-earnings ratio of -4.51 and a beta of 0.94.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.08). ARS Pharmaceuticals had a negative net margin of 200.00% and a negative return on equity of 153.61%. The business had revenue of $22.68 million for the quarter, compared to analyst estimates of $22.20 million. As a group, analysts predict that ARS Pharmaceuticals will post -1.75 earnings per share for the current year.

Hedge Funds Weigh In On ARS Pharmaceuticals

Large investors have recently made changes to their positions in the company. Torren Management LLC acquired a new position in shares of ARS Pharmaceuticals in the 4th quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of ARS Pharmaceuticals by 25.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company’s stock valued at $56,000 after purchasing an additional 982 shares during the period. Bessemer Group Inc. lifted its stake in shares of ARS Pharmaceuticals by 3,102.1% in the 1st quarter. Bessemer Group Inc. now owns 7,525 shares of the company’s stock valued at $61,000 after purchasing an additional 7,290 shares during the period. Osterweis Capital Management Inc. acquired a new position in shares of ARS Pharmaceuticals in the 4th quarter valued at $65,000. Finally, Russell Investments Group Ltd. increased its holdings in ARS Pharmaceuticals by 197.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,668 shares of the company’s stock worth $67,000 after acquiring an additional 4,427 shares in the last quarter. 68.16% of the stock is currently owned by institutional investors and hedge funds.

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.