ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has been given an average recommendation of “Moderate Buy” by the six research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $25.00.

A number of analysts have recently issued reports on SPRY shares. Weiss Ratings lowered ARS Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 17th. Leerink Partners set a $15.00 price target on ARS Pharmaceuticals in a report on Tuesday, September 8th.

ARS Pharmaceuticals Price Performance

Shares of SPRY stock opened at $4.29 on Thursday. The company has a market capitalization of $426.64 million, a PE ratio of -1.97 and a beta of 0.85. The firm has a fifty day simple moving average of $5.23 and a 200-day simple moving average of $7.20. The company has a current ratio of 3.48, a quick ratio of 3.28 and a debt-to-equity ratio of 13.72. ARS Pharmaceuticals has a twelve month low of $3.98 and a twelve month high of $13.15.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.15). The firm had revenue of $33.66 million for the quarter, compared to analysts’ expectations of $31.32 million. ARS Pharmaceuticals had a negative return on equity of 256.67% and a negative net margin of 184.24%. Equities research analysts anticipate that ARS Pharmaceuticals will post -1.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. increased its stake in shares of ARS Pharmaceuticals by 3,102.1% in the first quarter. Bessemer Group Inc. now owns 7,525 shares of the company’s stock worth $61,000 after buying an additional 7,290 shares during the last quarter. Alpine Woods Capital Investors LLC bought a new position in ARS Pharmaceuticals during the 1st quarter valued at $80,000. Syon Capital LLC bought a new position in ARS Pharmaceuticals during the 2nd quarter valued at $80,000. Allianz Asset Management GmbH acquired a new position in ARS Pharmaceuticals during the 2nd quarter worth $82,000. Finally, Foster & Motley Inc. acquired a new position in ARS Pharmaceuticals during the 2nd quarter worth $118,000. 68.16% of the stock is currently owned by hedge funds and other institutional investors.

About ARS Pharmaceuticals

ARS Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for severe allergic reactions. The company’s lead product, neffy, is an epinephrine nasal spray designed to provide a needle-free alternative to injectable epinephrine for the emergency treatment of type I allergic reactions, including anaphylaxis.

Neffy received approval from the U.S. Food and Drug Administration in 2024 for adults and children who meet the applicable weight requirements.