ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned 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 $28.20.

Several research firms have recently commented on SPRY. Wall Street Zen raised ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Northland Securities began coverage on ARS Pharmaceuticals in a report on Thursday, April 9th. They issued an “outperform” rating and a $25.00 price objective for the company. Cantor Fitzgerald increased their price objective on ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Leerink Partners cut their price objective on ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Weiss Ratings raised ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st.

Insiders Place Their Bets

In related news, insider Alexander A. Fitzpatrick sold 3,355 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $10.00, for a total value of $33,550.00. Following the sale, the insider owned 90,910 shares in the company, valued at approximately $909,100. This represents a 3.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Karas sold 25,000 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $10.00, for a total value of $250,000.00. Following the completion of the sale, the insider owned 12,176 shares in the company, valued at approximately $121,760. This trade represents a 67.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 33.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in 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 acquiring an additional 982 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in ARS Pharmaceuticals by 3.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,994 shares of the company’s stock valued at $596,000 after acquiring an additional 1,234 shares during the period. ProShare Advisors LLC raised its stake in ARS Pharmaceuticals by 11.3% in 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 during the period. FAS Wealth Partners Inc. raised its stake in ARS Pharmaceuticals by 0.9% in the 4th quarter. FAS Wealth Partners Inc. now owns 202,407 shares of the company’s stock valued at $2,358,000 after acquiring an additional 1,787 shares during the period. Finally, Osaic Holdings Inc. raised its stake in ARS Pharmaceuticals by 52.8% in the 2nd quarter. Osaic Holdings Inc. now owns 5,215 shares of the company’s stock valued at $91,000 after acquiring an additional 1,803 shares during the period. Institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Trading Up 6.5%

NASDAQ SPRY opened at $8.54 on Tuesday. The company has a market cap of $848.02 million, a PE ratio of -4.25 and a beta of 0.94. The company has a current ratio of 4.94, a quick ratio of 4.77 and a debt-to-equity ratio of 2.79. ARS Pharmaceuticals has a 12 month low of $6.66 and a 12 month high of $18.90. The stock has a 50 day moving average of $8.71 and a 200-day moving average of $9.34.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings data 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 analyst estimates of $22.20 million. ARS Pharmaceuticals had a negative net margin of 200.00% and a negative return on equity of 153.61%. On average, equities research analysts anticipate that ARS Pharmaceuticals will post -1.82 EPS for the current fiscal 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.