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

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $28.60.

SPRY has been the subject of a number of research reports. Cantor Fitzgerald increased their price target on ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday. Leerink Partners set a $26.00 price objective on ARS Pharmaceuticals and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. Wall Street Zen raised ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Zacks Research upgraded ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 25th. Finally, Northland Securities assumed coverage on ARS Pharmaceuticals in a research note on Thursday, April 9th. They set an “outperform” rating and a $25.00 price target on the stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in SPRY. Mirae Asset Global Investments Co. Ltd. grew its holdings in ARS Pharmaceuticals by 25.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company’s stock worth $56,000 after acquiring an additional 982 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of ARS Pharmaceuticals by 3.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,994 shares of the company’s stock valued at $596,000 after purchasing an additional 1,234 shares during the period. ProShare Advisors LLC boosted its position in shares of ARS Pharmaceuticals by 11.3% during the 4th quarter. ProShare Advisors LLC now owns 15,139 shares of the company’s stock valued at $176,000 after purchasing an additional 1,532 shares in the last quarter. Belpointe Asset Management LLC grew its stake in ARS Pharmaceuticals by 8.9% during the third quarter. Belpointe Asset Management LLC now owns 18,860 shares of the company’s stock worth $190,000 after purchasing an additional 1,537 shares during the period. Finally, FAS Wealth Partners Inc. grew its stake in ARS Pharmaceuticals by 0.9% during the fourth quarter. FAS Wealth Partners Inc. now owns 202,407 shares of the company’s stock worth $2,358,000 after purchasing an additional 1,787 shares during the period. 68.16% of the stock is currently owned by institutional investors and hedge funds.

ARS Pharmaceuticals Price Performance

SPRY stock opened at $9.40 on Friday. The stock has a market cap of $933.42 million, a price-to-earnings ratio of -4.68 and a beta of 0.93. The company has a debt-to-equity ratio of 2.79, a current ratio of 4.94 and a quick ratio of 4.77. The company has a 50 day simple moving average of $8.17 and a 200 day simple moving average of $9.24. ARS Pharmaceuticals has a 1 year low of $6.66 and a 1 year high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued 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). The company had revenue of $22.68 million during the quarter, compared to analyst estimates of $22.20 million. ARS Pharmaceuticals had a negative net margin of 200.00% and a negative return on equity of 153.61%. Research analysts anticipate that ARS Pharmaceuticals will post -1.75 EPS for the current fiscal 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.