ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives $31.80 Average PT from Analysts

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $31.80.

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

ARS Pharmaceuticals Stock Performance

Shares of ARS Pharmaceuticals stock opened at $11.49 on Friday. The business’s 50 day moving average price is $9.60 and its 200 day moving average price is $12.32. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -14.19 and a beta of 0.80. The company has a debt-to-equity ratio of 1.14, a quick ratio of 6.51 and a current ratio of 6.66. ARS Pharmaceuticals has a one year low of $6.66 and a one year high of $18.90.

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

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals 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 value of $190,121.88. Following the transaction, the chief operating officer 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 transaction was disclosed in a filing with the SEC, which is available through this link. 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 SEC filing for this sale provides additional information. Corporate insiders own 33.50% of the company’s stock.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several large investors have recently made changes to their positions in SPRY. CWM LLC increased its holdings in ARS Pharmaceuticals by 243.7% in the 3rd quarter. CWM LLC now owns 2,547 shares of the company’s stock valued at $26,000 after purchasing an additional 1,806 shares during the last quarter. Osaic Holdings Inc. increased its position in ARS Pharmaceuticals by 52.8% during the second quarter. Osaic Holdings Inc. now owns 5,215 shares of the company’s stock worth $91,000 after buying an additional 1,803 shares during the period. Ameritas Investment Partners Inc. lifted its stake in ARS Pharmaceuticals by 16.1% in the second quarter. Ameritas Investment Partners Inc. now owns 5,598 shares of the company’s stock valued at $98,000 after buying an additional 777 shares during the last quarter. RiverPark Advisors LLC acquired a new stake in shares of ARS Pharmaceuticals in the second quarter valued at approximately $100,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of ARS Pharmaceuticals by 58.3% in the second quarter. BNP Paribas Financial Markets now owns 6,097 shares of the company’s stock valued at $106,000 after acquiring an additional 2,245 shares during the period. 68.16% of the stock is currently owned by institutional investors and hedge funds.

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.