Royce & Associates LP Invests $2.41 Million in ARS Pharmaceuticals, Inc. $SPRY

Royce & Associates LP bought a new position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 207,051 shares of the company’s stock, valued at approximately $2,412,000. Royce & Associates LP owned approximately 0.21% of ARS Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SPRY. Royal Bank of Canada boosted its stake in shares of ARS Pharmaceuticals by 1,075.3% during the 1st quarter. Royal Bank of Canada now owns 18,547 shares of the company’s stock worth $234,000 after acquiring an additional 16,969 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of ARS Pharmaceuticals during the 1st quarter worth about $140,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in ARS Pharmaceuticals by 13.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 279,840 shares of the company’s stock valued at $3,520,000 after buying an additional 32,526 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in ARS Pharmaceuticals by 7.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 34,560 shares of the company’s stock valued at $603,000 after buying an additional 2,357 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in ARS Pharmaceuticals by 55.1% in the 2nd quarter. Legal & General Group Plc now owns 54,825 shares of the company’s stock valued at $957,000 after buying an additional 19,484 shares in the last quarter. 68.16% of the stock is owned by hedge funds and other institutional investors.

ARS Pharmaceuticals Trading Down 3.5%

Shares of ARS Pharmaceuticals stock opened at $9.07 on Friday. The company has a current ratio of 4.94, a quick ratio of 4.77 and a debt-to-equity ratio of 2.79. The firm’s 50-day moving average price is $8.19 and its 200 day moving average price is $9.24. ARS Pharmaceuticals, Inc. has a twelve month low of $6.66 and a twelve month high of $18.90. The firm has a market capitalization of $900.65 million, a PE ratio of -4.51 and a beta of 0.93.

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

Analysts Set New Price Targets

SPRY has been the topic of a number of research reports. Weiss Ratings lowered shares of ARS Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 15th. Leerink Partners set a $26.00 price target on shares of ARS Pharmaceuticals and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Wall Street Zen raised shares of ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Northland Securities initiated coverage on shares of ARS Pharmaceuticals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, Cantor Fitzgerald raised their price target on shares of ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.60.

ARS Pharmaceuticals 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.