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

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

SPRY has been the subject of several research analyst reports. Wall Street Zen cut shares of ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. William Blair reiterated an “outperform” rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Oppenheimer started coverage on shares of ARS Pharmaceuticals in a research report on Monday, February 10th. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Scotiabank started coverage on shares of ARS Pharmaceuticals in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $30.00 price target for the company.

Insider Activity at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Eric Karas sold 10,000 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $14.00, for a total transaction of $140,000.00. Following the completion of the transaction, the insider now owns 7,696 shares in the company, valued at approximately $107,744. This represents a 56.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Laura Shawver sold 49,600 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $11.21, for a total transaction of $556,016.00. Following the transaction, the director now owns 210,346 shares of the company’s stock, valued at approximately $2,357,978.66. The trade was a 19.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 382,571 shares of company stock worth $5,177,904 in the last 90 days. 33.50% of the stock is owned by insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

Large investors have recently bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new position in ARS Pharmaceuticals during the 4th quarter worth $27,000. ANTIPODES PARTNERS Ltd purchased a new position in ARS Pharmaceuticals during the 1st quarter worth $37,000. GAMMA Investing LLC grew its stake in shares of ARS Pharmaceuticals by 4,319.7% during the 1st quarter. GAMMA Investing LLC now owns 3,359 shares of the company’s stock worth $420,000 after purchasing an additional 3,283 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of ARS Pharmaceuticals by 78,100.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company’s stock worth $49,000 after purchasing an additional 3,905 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of ARS Pharmaceuticals during the 4th quarter worth $73,000. Hedge funds and other institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Trading Up 3.2%

Shares of ARS Pharmaceuticals stock opened at $14.98 on Thursday. The company has a fifty day simple moving average of $13.67 and a 200-day simple moving average of $12.81. ARS Pharmaceuticals has a 12-month low of $7.55 and a 12-month high of $18.51. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -29.37 and a beta of 0.84.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued 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 during the quarter, compared to analyst estimates of $7.48 million. On average, analysts forecast that ARS Pharmaceuticals will post -0.55 earnings per share 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.