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

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $31.80.

A number of brokerages recently issued reports on SPRY. Raymond James Financial set a $32.00 target price on shares of ARS Pharmaceuticals in a research report on Friday, September 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, October 8th. Zacks Research upgraded shares of ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 20th. Finally, Roth Capital initiated coverage on ARS Pharmaceuticals in a research report on Tuesday, November 4th. They set a “buy” rating and a $30.00 price target on the stock.

ARS Pharmaceuticals Price Performance

ARS Pharmaceuticals stock opened at $11.65 on Friday. The business has a 50 day simple moving average of $9.55 and a 200 day simple moving average of $12.38. The company has a debt-to-equity ratio of 1.14, a current ratio of 6.66 and a quick ratio of 6.51. The company has a market capitalization of $1.15 billion, a PE ratio of -14.38 and a beta of 0.79. ARS Pharmaceuticals has a one year low of $6.66 and a one year high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.07). The company had revenue of $32.50 million for the quarter, compared to analyst estimates of $28.87 million. ARS Pharmaceuticals had a negative return on equity of 38.77% and a negative net margin of 56.06%. On average, sell-side analysts forecast that ARS Pharmaceuticals will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling at ARS Pharmaceuticals

In related news, COO Brian Dorsey sold 21,828 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $8.71, for a total transaction of $190,121.88. Following the transaction, the chief operating officer owned 10,789 shares in the company, valued at $93,972.19. This represents a 66.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Justin Chakma sold 166,380 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $8.87, for a total transaction of $1,475,790.60. The disclosure for this sale is available in the SEC filing. 33.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

Large investors have recently modified their holdings of the stock. Invesco Ltd. increased its holdings in shares of ARS Pharmaceuticals by 49.8% in the first quarter. Invesco Ltd. now owns 29,949 shares of the company’s stock valued at $377,000 after purchasing an additional 9,961 shares in the last quarter. Trexquant Investment LP lifted its holdings in ARS Pharmaceuticals by 78.2% during the 1st quarter. Trexquant Investment LP now owns 100,769 shares of the company’s stock worth $1,268,000 after buying an additional 44,206 shares in the last quarter. Royal Bank of Canada increased its stake in shares of ARS Pharmaceuticals by 1,075.3% in the 1st quarter. Royal Bank of Canada now owns 18,547 shares of the company’s stock valued at $234,000 after buying an additional 16,969 shares during the period. AQR Capital Management LLC bought a new stake in shares of ARS Pharmaceuticals during the first quarter worth $140,000. Finally, Alliancebernstein L.P. raised its position in shares of ARS Pharmaceuticals by 1.1% during the first quarter. Alliancebernstein L.P. now owns 3,922,805 shares of the company’s stock worth $49,349,000 after acquiring an additional 42,071 shares during the last quarter. 68.16% of the stock is currently owned by institutional investors and hedge funds.

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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.