ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Given Average Recommendation of “Hold” by Brokerages

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has earned an average recommendation of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $30.6667.

Several brokerages have recently weighed in on SPRY. Zacks Research cut shares of ARS Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Roth Mkm started coverage on shares of ARS Pharmaceuticals in a report on Tuesday, November 4th. They set a “buy” rating and a $30.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research note on Wednesday, January 21st.

ARS Pharmaceuticals Stock Down 4.7%

SPRY stock opened at $9.00 on Friday. 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 stock has a market capitalization of $889.65 million, a P/E ratio of -11.11 and a beta of 0.79. ARS Pharmaceuticals has a fifty-two week low of $6.66 and a fifty-two week high of $18.90. The business has a 50-day moving average of $10.53 and a 200-day moving average of $10.66.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Rubric Capital Management LP increased its position in shares of ARS Pharmaceuticals by 37.8% during the 4th quarter. Rubric Capital Management LP now owns 6,200,000 shares of the company’s stock worth $72,230,000 after purchasing an additional 1,700,000 shares during the last quarter. Aberdeen Group plc increased 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 worth $41,428,000 after buying an additional 459,027 shares during the last quarter. Vanguard Group Inc. increased its holdings in ARS Pharmaceuticals by 7.3% during the third quarter. Vanguard Group Inc. now owns 3,500,303 shares of the company’s stock worth $35,178,000 after buying an additional 237,630 shares during the last quarter. State Street Corp raised its position in ARS Pharmaceuticals by 11.3% during the fourth quarter. State Street Corp now owns 3,223,581 shares of the company’s stock worth $37,555,000 after acquiring an additional 328,325 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in ARS Pharmaceuticals in the fourth quarter valued at $36,912,000. 68.16% of the stock is currently owned by institutional investors.

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.