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

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have earned an average rating of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. One equities research 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 1-year price objective among brokers that have updated their coverage on the stock in the last year is $33.00.

Several equities research analysts have commented on the stock. Zacks Research upgraded shares of ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research note on Wednesday, January 21st. Finally, Roth Mkm began coverage on shares of ARS Pharmaceuticals in a report on Tuesday, November 4th. They issued a “buy” rating and a $30.00 target price on the stock.

Insider Buying and Selling at ARS Pharmaceuticals

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

Institutional Trading of ARS Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rubric Capital Management LP raised its holdings in ARS Pharmaceuticals by 247.5% in the 3rd quarter. Rubric Capital Management LP now owns 4,500,000 shares of the company’s stock worth $45,225,000 after acquiring an additional 3,205,122 shares during the period. Aberdeen Group plc boosted its holdings in ARS Pharmaceuticals by 14.8% during the fourth quarter. Aberdeen Group plc now owns 3,556,049 shares of the company’s stock valued at $41,428,000 after acquiring an additional 459,027 shares during the period. Vanguard Group Inc. grew its position in shares of ARS Pharmaceuticals by 7.3% in the third quarter. Vanguard Group Inc. now owns 3,500,303 shares of the company’s stock valued at $35,178,000 after purchasing an additional 237,630 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of ARS Pharmaceuticals by 31.1% in the third quarter. Franklin Resources Inc. now owns 2,398,012 shares of the company’s stock worth $24,100,000 after purchasing an additional 569,257 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of ARS Pharmaceuticals in the second quarter worth about $30,154,000. Institutional investors and hedge funds own 68.16% of the company’s stock.

ARS Pharmaceuticals Stock Performance

SPRY opened at $10.48 on Tuesday. The business has a 50 day moving average price of $10.33 and a two-hundred day moving average price of $11.64. 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 $1.04 billion, a price-to-earnings ratio of -12.94 and a beta of 0.80. ARS Pharmaceuticals has a 1-year low of $6.66 and a 1-year high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.07). The firm had revenue of $32.50 million during the quarter, compared to the consensus estimate of $28.87 million. ARS Pharmaceuticals had a negative return on equity of 38.77% and a negative net margin of 56.06%. Research analysts predict that ARS Pharmaceuticals will post -0.55 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.