ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives $28.60 Consensus Price Target from Brokerages

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. One investment 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 12-month target price among analysts that have issued ratings on the stock in the last year is $28.60.

SPRY has been the topic of several research analyst reports. Wall Street Zen upgraded shares of ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. 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 note on Thursday, May 28th. Weiss Ratings upgraded shares of ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Zacks Research upgraded shares of ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 25th. Finally, Northland Securities started coverage on shares of ARS Pharmaceuticals in a research report on Thursday, April 9th. They set an “outperform” rating and a $25.00 target price on the stock.

ARS Pharmaceuticals Stock Down 5.6%

Shares of SPRY stock opened at $8.90 on Friday. The stock has a market cap of $883.77 million, a P/E ratio of -4.43 and a beta of 0.94. 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 4.77, a current ratio of 4.94 and a debt-to-equity ratio of 2.79. The company’s fifty day simple moving average is $8.21 and its two-hundred day simple moving average is $9.24.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.08). The company had revenue of $22.68 million during the quarter, compared to analysts’ expectations of $22.20 million. ARS Pharmaceuticals had a negative return on equity of 153.61% and a negative net margin of 200.00%. Analysts predict that ARS Pharmaceuticals will post -1.75 EPS for the current fiscal year.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. Rubric Capital Management LP grew its holdings in ARS Pharmaceuticals by 29.0% during the 1st quarter. Rubric Capital Management LP now owns 8,000,000 shares of the company’s stock valued at $64,240,000 after purchasing an additional 1,800,000 shares during the last quarter. Aberdeen Group plc grew its stake in ARS Pharmaceuticals by 14.8% in the 4th quarter. Aberdeen Group plc now owns 3,556,049 shares of the company’s stock worth $41,428,000 after acquiring an additional 459,027 shares in the last quarter. Vanguard Group Inc. grew its stake in ARS Pharmaceuticals by 7.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,500,303 shares of the company’s stock worth $35,178,000 after acquiring an additional 237,630 shares in the last quarter. State Street Corp grew its stake in ARS Pharmaceuticals by 11.3% in the 4th 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 bought a new position in ARS Pharmaceuticals in the 4th quarter worth about $36,912,000. 68.16% of the stock is currently owned by institutional investors.

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.