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

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have earned a consensus recommendation of “Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $31.00.

Several research analysts have weighed in on the company. Oppenheimer assumed coverage on ARS Pharmaceuticals in a research report on Monday, February 10th. They issued an “outperform” rating and a $40.00 price objective on the stock. William Blair reissued an “outperform” rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Finally, Scotiabank started coverage on shares of ARS Pharmaceuticals in a research note on Friday, March 7th. They set a “sector outperform” rating and a $30.00 price target for the company.

ARS Pharmaceuticals Stock Performance

Shares of ARS Pharmaceuticals stock opened at $14.22 on Thursday. The stock has a market capitalization of $1.40 billion, a PE ratio of -27.88 and a beta of 0.84. The stock has a 50 day moving average price of $13.48 and a two-hundred day moving average price of $12.88. ARS Pharmaceuticals has a 52 week low of $7.55 and a 52 week high of $18.51.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.35). The company had revenue of $7.97 million for the quarter, compared to analysts’ expectations of $7.48 million. Research analysts forecast that ARS Pharmaceuticals will post -0.55 EPS for the current year.

Insider Transactions at ARS Pharmaceuticals

In other news, insider Eric Karas sold 10,000 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the sale, the insider now directly owns 7,696 shares of the company’s stock, valued at approximately $107,744. This represents a 56.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Laura Shawver sold 50,002 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $12.30, for a total transaction of $615,024.60. Following the completion of the sale, the director now directly owns 210,346 shares in the company, valued at $2,587,255.80. This represents a 19.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,602 shares of company stock valued at $1,311,041. 33.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new stake in ARS Pharmaceuticals during the fourth quarter valued at about $27,000. ANTIPODES PARTNERS Ltd purchased a new stake in ARS Pharmaceuticals during the first quarter valued at about $37,000. GAMMA Investing LLC raised its position in ARS Pharmaceuticals by 4,319.7% during the first quarter. GAMMA Investing LLC now owns 3,359 shares of the company’s stock valued at $420,000 after purchasing an additional 3,283 shares in the last quarter. PNC Financial Services Group Inc. raised its position in ARS Pharmaceuticals by 78,100.0% during the first quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company’s stock valued at $49,000 after purchasing an additional 3,905 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of ARS Pharmaceuticals during the fourth quarter worth approximately $73,000. Hedge funds and other institutional investors own 68.16% of the company’s stock.

About ARS Pharmaceuticals

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.