ARS Pharmaceuticals (NASDAQ:SPRY) Coverage Initiated by Analysts at Northland Securities

Research analysts at Northland Securities initiated coverage on shares of ARS Pharmaceuticals (NASDAQ:SPRY) in a report issued on Thursday. The brokerage set an “outperform” rating and a $25.00 price target on the stock. Northland Securities’ target price suggests a potential upside of 205.25% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. 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. Zacks Research raised shares of ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $28.25.

ARS Pharmaceuticals Stock Up 0.5%

ARS Pharmaceuticals stock opened at $8.19 on Thursday. The company has a current ratio of 7.28, a quick ratio of 7.06 and a debt-to-equity ratio of 1.47. The firm’s fifty day moving average price is $8.90 and its two-hundred day moving average price is $9.63. The firm has a market capitalization of $813.27 million, a price-to-earnings ratio of -4.68 and a beta of 0.86. ARS Pharmaceuticals has a 1-year low of $6.66 and a 1-year high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its earnings results on Monday, March 9th. The company reported ($0.42) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.42). ARS Pharmaceuticals had a negative net margin of 203.25% and a negative return on equity of 100.29%. The company had revenue of $28.09 million for the quarter, compared to analyst estimates of $25.58 million. On average, equities research analysts predict that ARS Pharmaceuticals will post -0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Rubric Capital Management LP increased its position in shares of ARS Pharmaceuticals by 37.8% during the 4th quarter. Rubric Capital Management LP now owns 6,200,000 shares of the company’s stock valued at $72,230,000 after purchasing an additional 1,700,000 shares during the last quarter. Aberdeen Group plc increased its holdings in ARS Pharmaceuticals by 14.8% during the fourth quarter. Aberdeen Group plc now owns 3,556,049 shares of the company’s stock worth $41,428,000 after buying an additional 459,027 shares during the last quarter. Vanguard Group Inc. raised its position in ARS Pharmaceuticals by 7.3% in the third 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 during the period. State Street Corp raised its position in ARS Pharmaceuticals by 11.3% in the fourth 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 during the period. Finally, Millennium Management LLC purchased a new position in ARS Pharmaceuticals in the fourth quarter valued at about $36,912,000. 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.