ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives Average Recommendation of “Moderate Buy” from Analysts

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $28.20.

A number of research firms recently weighed in on SPRY. Wall Street Zen raised ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings raised ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Cantor Fitzgerald lifted their target price on ARS Pharmaceuticals from $12.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Leerink Partners decreased their target price on ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday, June 25th. Finally, Northland Securities began coverage on ARS Pharmaceuticals in a research report on Thursday, April 9th. They set an “outperform” rating and a $25.00 target price on the stock.

ARS Pharmaceuticals Trading Up 0.2%

Shares of NASDAQ:SPRY opened at $8.56 on Tuesday. The company has a market cap of $850.01 million, a P/E ratio of -4.26 and a beta of 0.94. The stock’s 50-day moving average is $8.71 and its 200-day moving average is $9.33. ARS Pharmaceuticals has a 52-week low of $6.66 and a 52-week high of $18.63. The company has a debt-to-equity ratio of 2.79, a quick ratio of 4.77 and a current ratio of 4.94.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its earnings results on Friday, May 15th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.08). ARS Pharmaceuticals had a negative return on equity of 153.61% and a negative net margin of 200.00%.The firm had revenue of $22.68 million for the quarter, compared to analyst estimates of $22.20 million. Equities research analysts predict that ARS Pharmaceuticals will post -1.82 earnings per share for the current year.

Insider Transactions at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Eric Karas sold 25,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $10.00, for a total transaction of $250,000.00. Following the sale, the insider directly owned 12,176 shares of the company’s stock, valued at approximately $121,760. The trade was a 67.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander A. Fitzpatrick sold 3,355 shares of ARS Pharmaceuticals stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $10.00, for a total value of $33,550.00. Following the sale, the insider directly owned 90,910 shares in the company, valued at $909,100. The trade was a 3.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 33.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in SPRY. Torren Management LLC acquired a new stake in ARS Pharmaceuticals during the fourth quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in ARS Pharmaceuticals by 25.7% during the fourth 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 in the last quarter. Bessemer Group Inc. boosted its holdings in ARS Pharmaceuticals by 3,102.1% during the first 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 in the last quarter. Osterweis Capital Management Inc. acquired a new stake in ARS Pharmaceuticals during the fourth quarter valued at approximately $65,000. Finally, Russell Investments Group Ltd. boosted its holdings in ARS Pharmaceuticals by 197.5% during the third quarter. Russell Investments Group Ltd. now owns 6,668 shares of the company’s stock valued at $67,000 after purchasing an additional 4,427 shares in the last quarter. 68.16% of the stock is 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.