ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $31.80.

Several analysts have recently weighed in on SPRY shares. Raymond James Financial set a $32.00 price objective on shares of ARS Pharmaceuticals in a report on Friday, September 26th. Zacks Research upgraded ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 20th. Roth Capital assumed coverage on ARS Pharmaceuticals in a report on Tuesday, November 4th. They set a “buy” rating and a $30.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research note on Wednesday, October 8th.

ARS Pharmaceuticals Stock Down 0.4%

Shares of NASDAQ:SPRY opened at $9.93 on Monday. The company’s fifty day moving average is $9.36 and its 200-day moving average is $12.85. The company has a debt-to-equity ratio of 1.14, a quick ratio of 6.51 and a current ratio of 6.66. ARS Pharmaceuticals has a 52 week low of $6.66 and a 52 week high of $18.90. The company has a market capitalization of $981.58 million, a PE ratio of -12.26 and a beta of 0.82.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its earnings results on Monday, November 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.07). ARS Pharmaceuticals had a negative return on equity of 38.77% and a negative net margin of 56.06%.The firm had revenue of $32.50 million for the quarter, compared to analyst estimates of $28.87 million. Equities research analysts predict that ARS Pharmaceuticals will post -0.55 earnings per share for the current fiscal year.

Insider Transactions at ARS Pharmaceuticals

In related news, COO Brian Dorsey sold 21,828 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $8.71, for a total transaction of $190,121.88. Following the transaction, the chief operating officer owned 10,789 shares in the company, valued at $93,972.19. This represents a 66.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Justin Chakma sold 166,380 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $8.87, for a total transaction of $1,475,790.60. The disclosure for this sale is available in the SEC filing. Insiders own 33.50% of the company’s stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in SPRY. Alliancebernstein L.P. lifted its stake in shares of ARS Pharmaceuticals by 1.1% during the first quarter. Alliancebernstein L.P. now owns 3,922,805 shares of the company’s stock valued at $49,349,000 after acquiring an additional 42,071 shares during the period. Octagon Capital Advisors LP acquired a new stake in ARS Pharmaceuticals in the first quarter worth about $7,862,000. Trexquant Investment LP raised its holdings in ARS Pharmaceuticals by 78.2% during the 1st quarter. Trexquant Investment LP now owns 100,769 shares of the company’s stock worth $1,268,000 after purchasing an additional 44,206 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in ARS Pharmaceuticals by 57.8% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 68,094 shares of the company’s stock worth $1,188,000 after purchasing an additional 24,950 shares during the last quarter. Finally, Harbour Capital Advisors LLC lifted its position in ARS Pharmaceuticals by 102.3% during the 2nd quarter. Harbour Capital Advisors LLC now owns 57,950 shares of the company’s stock valued at $971,000 after purchasing an additional 29,300 shares during the period. 68.16% of the stock is owned by institutional investors and hedge funds.

About ARS Pharmaceuticals

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.