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

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have been given an average rating of “Moderate Buy” by the eight research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $31.80.

SPRY has been the topic of several recent analyst reports. Raymond James Financial set a $32.00 price target on ARS Pharmaceuticals in a research report on Friday, September 26th. Zacks Research upgraded shares of ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. Roth Capital began 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research report on Wednesday, October 8th.

Insider Transactions at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, COO Brian Dorsey sold 21,828 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $8.71, for a total transaction of $190,121.88. Following the completion of the transaction, the chief operating officer owned 10,789 shares of the company’s stock, valued at approximately $93,972.19. The trade was a 66.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Justin Chakma sold 166,380 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $8.87, for a total transaction of $1,475,790.60. Additional details regarding this sale are available in the official SEC disclosure. 33.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of SPRY. CWM LLC grew its holdings in shares of ARS Pharmaceuticals by 243.7% during the third quarter. CWM LLC now owns 2,547 shares of the company’s stock worth $26,000 after purchasing an additional 1,806 shares during the last quarter. Osaic Holdings Inc. increased its position in ARS Pharmaceuticals by 52.8% in the 2nd quarter. Osaic Holdings Inc. now owns 5,215 shares of the company’s stock valued at $91,000 after acquiring an additional 1,803 shares during the period. Ameritas Investment Partners Inc. increased its position in ARS Pharmaceuticals by 16.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,598 shares of the company’s stock valued at $98,000 after acquiring an additional 777 shares during the period. RiverPark Advisors LLC bought a new position in shares of ARS Pharmaceuticals during the second quarter valued at $100,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of ARS Pharmaceuticals by 58.3% during the second quarter. BNP Paribas Financial Markets now owns 6,097 shares of the company’s stock worth $106,000 after purchasing an additional 2,245 shares during the period. Institutional investors and hedge funds own 68.16% of the company’s stock.

ARS Pharmaceuticals Trading Up 0.1%

NASDAQ SPRY opened at $11.65 on Friday. ARS Pharmaceuticals has a 12 month low of $6.66 and a 12 month high of $18.90. The stock has a 50-day simple moving average of $9.55 and a 200 day simple moving average of $12.38. The company has a current ratio of 6.66, a quick ratio of 6.51 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $1.15 billion, a PE ratio of -14.38 and a beta of 0.79.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.07). The business had revenue of $32.50 million for the quarter, compared to the consensus estimate of $28.87 million. ARS Pharmaceuticals had a negative net margin of 56.06% and a negative return on equity of 38.77%. Research analysts forecast that ARS Pharmaceuticals will post -0.55 EPS for the current year.

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