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

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have earned an average rating of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $28.20.

A number of equities analysts have recently weighed in on the company. Leerink Partners lowered their target price on ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday, June 25th. Wall Street Zen raised shares of ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Northland Securities assumed coverage on shares of ARS Pharmaceuticals in a research note on Thursday, April 9th. They set an “outperform” rating and a $25.00 price target for the company. Weiss Ratings upgraded shares of ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. Finally, Cantor Fitzgerald raised their price objective on shares of ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th.

Insider Activity

In related news, insider Alexander A. Fitzpatrick sold 3,355 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $10.00, for a total value of $33,550.00. Following the transaction, the insider owned 90,910 shares of the company’s stock, valued at approximately $909,100. This trade represents a 3.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Karas sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $10.00, for a total transaction of $250,000.00. Following the completion of the transaction, the insider directly owned 12,176 shares in the company, valued at approximately $121,760. The trade was a 67.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 33.80% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Torren Management LLC bought a new stake in ARS Pharmaceuticals during the fourth quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 valued at $56,000 after acquiring an additional 982 shares in the last quarter. Bessemer Group Inc. boosted its holdings in ARS Pharmaceuticals by 3,102.1% during the 1st quarter. Bessemer Group Inc. now owns 7,525 shares of the company’s stock worth $61,000 after acquiring an additional 7,290 shares during the last quarter. Osterweis Capital Management Inc. purchased a new position in ARS Pharmaceuticals during the 4th quarter worth $65,000. Finally, Russell Investments Group Ltd. boosted its holdings in ARS Pharmaceuticals by 197.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,668 shares of the company’s stock worth $67,000 after acquiring an additional 4,427 shares during the last quarter. 68.16% of the stock is owned by institutional investors.

ARS Pharmaceuticals Trading Down 4.7%

NASDAQ:SPRY opened at $6.06 on Friday. ARS Pharmaceuticals has a 12 month low of $6.06 and a 12 month high of $18.63. The company has a current ratio of 4.94, a quick ratio of 4.77 and a debt-to-equity ratio of 2.79. The stock has a market capitalization of $601.76 million, a price-to-earnings ratio of -3.01 and a beta of 0.95. The firm has a fifty day simple moving average of $8.46 and a two-hundred day simple moving average of $8.93.

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). ARS Pharmaceuticals had a negative net margin of 200.00% and a negative return on equity of 153.61%. The company had revenue of $22.68 million for the quarter, compared to analyst estimates of $22.20 million. Analysts expect that ARS Pharmaceuticals will post -1.95 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.