ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives $28.20 Average Price Target from Analysts

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has been given a consensus rating of “Moderate Buy” by the six research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $28.20.

SPRY has been the subject of a number of recent research reports. Wall Street Zen raised ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings raised shares of ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Leerink Partners cut their price objective on shares of ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Thursday, June 25th. Cantor Fitzgerald raised their price objective on shares of ARS Pharmaceuticals from $12.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Finally, Northland Securities began coverage on shares of ARS Pharmaceuticals in a research note on Thursday, April 9th. They set an “outperform” rating and a $25.00 target price on the stock.

ARS Pharmaceuticals Price Performance

SPRY stock opened at $5.94 on Friday. ARS Pharmaceuticals has a 1 year low of $5.76 and a 1 year high of $18.63. The company has a debt-to-equity ratio of 2.79, a current ratio of 4.94 and a quick ratio of 4.77. The firm has a market capitalization of $589.84 million, a PE ratio of -2.96 and a beta of 0.95. The business has a 50 day simple moving average of $8.39 and a 200-day simple moving average of $8.87.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.08). The company had revenue of $22.68 million for 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%. Equities research analysts anticipate that ARS Pharmaceuticals will post -1.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Eric Karas sold 25,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $10.00, for a total transaction of $250,000.00. Following the sale, the insider owned 12,176 shares of the company’s stock, valued at approximately $121,760. The trade was a 67.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander A. Fitzpatrick sold 3,355 shares of ARS Pharmaceuticals stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $10.00, for a total transaction of $33,550.00. Following the sale, the insider directly owned 90,910 shares in the company, valued at approximately $909,100. The trade was a 3.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 33.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Investment Management Associates Inc. ADV purchased a new stake in ARS Pharmaceuticals in the 4th quarter valued at about $3,629,000. Creek Drive Management Group LLC purchased a new position in ARS Pharmaceuticals during the fourth quarter worth about $3,447,000. UBS Group AG boosted its stake in ARS Pharmaceuticals by 235.0% during the fourth quarter. UBS Group AG now owns 2,210,866 shares of the company’s stock worth $25,757,000 after buying an additional 1,550,980 shares during the period. Aberdeen Group plc increased its position in shares of ARS Pharmaceuticals by 14.8% during the fourth quarter. Aberdeen Group plc now owns 3,556,049 shares of the company’s stock valued at $41,428,000 after acquiring an additional 459,027 shares during the last quarter. Finally, General American Investors Co. Inc. increased its position in shares of ARS Pharmaceuticals by 29.9% during the first quarter. General American Investors Co. Inc. now owns 727,154 shares of the company’s stock valued at $5,839,000 after acquiring an additional 167,195 shares during the last quarter. Hedge funds and other institutional investors 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.