ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives $33.00 Consensus PT from Analysts

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has received a consensus rating of “Hold” from the six brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $33.00.

SPRY has been the topic of several recent research reports. Zacks Research downgraded shares of ARS Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Roth Mkm began coverage on ARS Pharmaceuticals in a report on Tuesday, November 4th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research report on Wednesday, January 21st.

ARS Pharmaceuticals Trading Down 2.3%

SPRY stock opened at $9.99 on Tuesday. The business has a fifty day simple moving average of $10.58 and a 200-day simple moving average of $11.48. The company has a market cap of $987.51 million, a price-to-earnings ratio of -12.33 and a beta of 0.80. ARS Pharmaceuticals has a 52 week low of $6.66 and a 52 week high of $18.90. The company has a quick ratio of 6.51, a current ratio of 6.66 and a debt-to-equity ratio of 1.14.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its earnings results on Monday, November 10th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $28.87 million. On average, equities research analysts expect that ARS Pharmaceuticals will post -0.55 EPS for the current year.

Insider Buying and Selling

In other news, insider Justin Chakma sold 166,380 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $8.87, for a total transaction of $1,475,790.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Brian Dorsey sold 21,828 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $8.71, for a total value of $190,121.88. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. 33.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC boosted its position 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 buying an additional 1,806 shares during the last quarter. Torren Management LLC acquired a new position in ARS Pharmaceuticals during the fourth quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of ARS Pharmaceuticals by 25.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company’s stock valued at $56,000 after buying an additional 982 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of 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 purchasing an additional 4,427 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in ARS Pharmaceuticals during the 3rd quarter worth approximately $82,000. Institutional investors and hedge funds own 68.16% of the company’s stock.

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.