Brokerages Set ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) PT at $28.20

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have received a consensus rating of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat 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 twelve-month price objective among analysts that have issued ratings on the stock in the last year is $28.20.

Several equities analysts have weighed in on SPRY shares. Wall Street Zen upgraded ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings raised ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. Northland Securities started coverage on ARS Pharmaceuticals in a research report on Thursday, April 9th. They set an “outperform” rating and a $25.00 target price for the company. Leerink Partners cut their target price on shares of ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday, June 25th. Finally, Cantor Fitzgerald boosted their price target on shares of ARS Pharmaceuticals from $12.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th.

ARS Pharmaceuticals Stock Down 8.0%

SPRY opened at $6.44 on Friday. The firm has a 50-day simple moving average of $8.54 and a two-hundred day simple moving average of $9.00. ARS Pharmaceuticals has a 52 week low of $6.42 and a 52 week high of $18.63. The company has a market capitalization of $639.49 million, a PE ratio of -3.20 and a beta of 0.95. The company has a quick ratio of 4.77, a current ratio of 4.94 and a debt-to-equity ratio of 2.79.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued 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 firm had revenue of $22.68 million during the quarter, compared to the consensus estimate of $22.20 million. ARS Pharmaceuticals had a negative return on equity of 153.61% and a negative net margin of 200.00%. Analysts forecast that ARS Pharmaceuticals will post -1.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Alexander A. Fitzpatrick sold 3,355 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $10.00, for a total value of $33,550.00. Following the sale, the insider owned 90,910 shares of the company’s stock, valued at approximately $909,100. This represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $10.00, for a total transaction of $250,000.00. Following the completion of the sale, the insider owned 12,176 shares of the company’s stock, valued at $121,760. This trade represents a 67.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 33.80% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Torren Management LLC bought a new position in shares of ARS Pharmaceuticals during the fourth quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of ARS Pharmaceuticals by 25.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company’s stock worth $56,000 after acquiring an additional 982 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of ARS Pharmaceuticals by 3,102.1% during the 1st quarter. Bessemer Group Inc. now owns 7,525 shares of the company’s stock worth $61,000 after acquiring an additional 7,290 shares during the last quarter. Osterweis Capital Management Inc. purchased a new position in ARS Pharmaceuticals during the 4th quarter valued at $65,000. Finally, Russell Investments Group Ltd. boosted its holdings in ARS Pharmaceuticals by 197.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,668 shares of the company’s stock valued at $67,000 after acquiring an additional 4,427 shares during the period. 68.16% of the stock is owned by hedge funds and other 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.