Legato Capital Management LLC Buys 69,685 Shares of ARS Pharmaceuticals, Inc. $SPRY

Legato Capital Management LLC raised its stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 176.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,095 shares of the company’s stock after acquiring an additional 69,685 shares during the period. Legato Capital Management LLC’s holdings in ARS Pharmaceuticals were worth $1,271,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Nano Cap New Millennium Growth Fund L P bought a new position in ARS Pharmaceuticals during the 4th quarter valued at $291,000. ProShare Advisors LLC lifted its stake in ARS Pharmaceuticals by 11.3% during the 4th quarter. ProShare Advisors LLC now owns 15,139 shares of the company’s stock valued at $176,000 after acquiring an additional 1,532 shares in the last quarter. Investment Management Associates Inc. ADV purchased a new stake in shares of ARS Pharmaceuticals during the 4th quarter valued at $3,629,000. AssuredPartners Investment Advisors LLC increased its position in shares of ARS Pharmaceuticals by 31.1% during the 4th quarter. AssuredPartners Investment Advisors LLC now owns 75,779 shares of the company’s stock valued at $883,000 after purchasing an additional 17,994 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of ARS Pharmaceuticals by 42.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 17,858 shares of the company’s stock valued at $208,000 after purchasing an additional 5,344 shares during the last quarter. 68.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SPRY has been the subject of several research analyst reports. Northland Securities initiated 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. Zacks Research raised ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 25th. Leerink Partners set a $26.00 target price on ARS Pharmaceuticals and gave the company an “outperform” rating in a research report on Tuesday, March 10th. Wall Street Zen raised ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings lowered ARS Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $28.25.

ARS Pharmaceuticals Stock Performance

Shares of ARS Pharmaceuticals stock opened at $7.94 on Monday. ARS Pharmaceuticals, Inc. has a 1 year low of $6.66 and a 1 year high of $18.90. The firm has a market cap of $788.44 million, a PE ratio of -3.95 and a beta of 0.93. The stock has a fifty day moving average price of $8.18 and a 200-day moving average price of $9.24. The company has a debt-to-equity ratio of 2.79, a current ratio of 4.94 and a quick ratio of 7.06.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced 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). ARS Pharmaceuticals had a negative net margin of 200.00% and a negative return on equity of 153.61%. The business had revenue of $22.68 million for the quarter, compared to analysts’ expectations of $22.20 million. Equities research analysts anticipate that ARS Pharmaceuticals, Inc. will post -1.75 EPS for the current year.

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.