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

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $33.00.

SPRY has been the topic of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research report on Wednesday, January 21st. Roth Mkm started coverage on ARS Pharmaceuticals in a research report on Tuesday, November 4th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Zacks Research upgraded ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 20th.

Insider Activity at ARS Pharmaceuticals

In other news, COO Brian Dorsey sold 21,828 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $8.71, for a total transaction of $190,121.88. Following the sale, the chief operating officer directly owned 10,789 shares in the company, valued at approximately $93,972.19. The trade was a 66.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Justin Chakma sold 166,380 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $8.87, for a total value 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 hedge funds have recently made changes to their positions in the business. Rubric Capital Management LP increased its stake in ARS Pharmaceuticals by 247.5% in the third quarter. Rubric Capital Management LP now owns 4,500,000 shares of the company’s stock valued at $45,225,000 after acquiring an additional 3,205,122 shares during the period. Aberdeen Group plc lifted its stake in ARS Pharmaceuticals by 14.8% during the fourth quarter. Aberdeen Group plc now owns 3,556,049 shares of the company’s stock worth $41,428,000 after purchasing an additional 459,027 shares during the period. Vanguard Group Inc. boosted its holdings in ARS Pharmaceuticals by 7.3% during the third quarter. Vanguard Group Inc. now owns 3,500,303 shares of the company’s stock valued at $35,178,000 after purchasing an additional 237,630 shares in the last quarter. Franklin Resources Inc. boosted its holdings in ARS Pharmaceuticals by 31.1% during the third quarter. Franklin Resources Inc. now owns 2,398,012 shares of the company’s stock valued at $24,100,000 after purchasing an additional 569,257 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of ARS Pharmaceuticals in the 2nd quarter valued at approximately $30,154,000. Institutional investors and hedge funds own 68.16% of the company’s stock.

ARS Pharmaceuticals Stock Up 2.6%

Shares of SPRY stock opened at $10.48 on Tuesday. ARS Pharmaceuticals has a 12 month low of $6.66 and a 12 month high of $18.90. The company has a quick ratio of 6.51, a current ratio of 6.66 and a debt-to-equity ratio of 1.14. The firm has a market cap of $1.04 billion, a PE ratio of -12.94 and a beta of 0.80. The stock has a 50 day moving average of $10.33 and a 200-day moving average of $11.64.

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). The company had revenue of $32.50 million for the quarter, compared to the consensus estimate of $28.87 million. ARS Pharmaceuticals had a negative return on equity of 38.77% and a negative net margin of 56.06%. On average, equities analysts predict that ARS Pharmaceuticals will post -0.55 EPS for the current year.

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.