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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $28.60.

Several equities analysts recently commented on the company. Cantor Fitzgerald upped their price objective on ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Wall Street Zen upgraded ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Leerink Partners set a $26.00 price objective on ARS Pharmaceuticals and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Weiss Ratings upgraded ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. Finally, Northland Securities assumed coverage on ARS Pharmaceuticals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $25.00 price objective on the stock.

Insider Activity at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Alexander A. Fitzpatrick sold 3,355 shares of the 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. This represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Karas sold 25,000 shares of the 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 approximately $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. 33.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Bamco Inc. NY lifted its position in shares of ARS Pharmaceuticals by 3,071.3% during the third quarter. Bamco Inc. NY now owns 1,268,532 shares of the company’s stock worth $12,749,000 after acquiring an additional 1,228,532 shares in the last quarter. Casdin Capital LLC purchased a new stake in shares of ARS Pharmaceuticals in the third quarter worth $16,080,000. Investment Management Associates Inc. ADV purchased a new stake in shares of ARS Pharmaceuticals in the fourth quarter worth $3,629,000. UBS Group AG raised its position in shares of ARS Pharmaceuticals by 235.0% in the fourth quarter. UBS Group AG now owns 2,210,866 shares of the company’s stock worth $25,757,000 after buying an additional 1,550,980 shares in the last quarter. Finally, Aberdeen Group plc raised its position in shares of ARS Pharmaceuticals by 14.8% in the fourth quarter. Aberdeen Group plc now owns 3,556,049 shares of the company’s stock worth $41,428,000 after buying an additional 459,027 shares in the last quarter. Hedge funds and other institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Stock Performance

SPRY stock opened at $9.98 on Tuesday. The firm has a market cap of $991.01 million, a PE ratio of -4.97 and a beta of 0.94. The company has a quick ratio of 4.77, a current ratio of 4.94 and a debt-to-equity ratio of 2.79. The business has a 50 day moving average of $8.60 and a 200-day moving average of $9.35. ARS Pharmaceuticals has a 12-month low of $6.66 and a 12-month high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its earnings results on Friday, May 15th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.08). The business had revenue of $22.68 million during the quarter, compared to the consensus estimate 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, sell-side analysts expect that ARS Pharmaceuticals will post -1.89 earnings per share 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.