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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has received a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $28.60.

Several equities analysts have recently issued reports on SPRY shares. Leerink Partners set a $26.00 price target on ARS Pharmaceuticals and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Wall Street Zen upgraded ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Northland Securities started coverage on ARS Pharmaceuticals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $25.00 price target on the stock. Zacks Research upgraded ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. Finally, Cantor Fitzgerald lifted 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, May 28th.

ARS Pharmaceuticals Price Performance

Shares of NASDAQ SPRY opened at $9.98 on Tuesday. The stock has a market capitalization of $991.01 million, a PE ratio of -4.97 and a beta of 0.94. 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 business has a fifty day moving average price of $8.60 and a two-hundred day moving average price of $9.35. ARS Pharmaceuticals has a fifty-two week low of $6.66 and a fifty-two week high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate 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%. As a group, equities analysts predict that ARS Pharmaceuticals will post -1.89 earnings per share for the current fiscal year.

Insider Buying and Selling at ARS Pharmaceuticals

In related news, insider Alexander A. Fitzpatrick sold 3,355 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $10.00, for a total transaction of $33,550.00. Following the sale, the insider owned 90,910 shares in the company, valued at $909,100. The trade was a 3.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Karas sold 25,000 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $10.00, for a total value of $250,000.00. Following the sale, the insider owned 12,176 shares in the company, valued at $121,760. This represents a 67.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 33.80% of the company’s stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its position 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in ARS Pharmaceuticals by 3.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,994 shares of the company’s stock worth $596,000 after buying an additional 1,234 shares during the period. ProShare Advisors LLC raised its stake in ARS Pharmaceuticals by 11.3% during the 4th quarter. ProShare Advisors LLC now owns 15,139 shares of the company’s stock worth $176,000 after buying an additional 1,532 shares during the period. FAS Wealth Partners Inc. raised its stake in ARS Pharmaceuticals by 0.9% during the 4th quarter. FAS Wealth Partners Inc. now owns 202,407 shares of the company’s stock worth $2,358,000 after buying an additional 1,787 shares during the period. Finally, Osaic Holdings Inc. increased its holdings in ARS Pharmaceuticals by 52.8% during the 2nd quarter. Osaic Holdings Inc. now owns 5,215 shares of the company’s stock worth $91,000 after purchasing an additional 1,803 shares in the last quarter. Institutional investors own 68.16% of the company’s stock.

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.