ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives $33.80 Consensus PT from Analysts

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have earned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $33.80.

Several analysts have recently commented on SPRY shares. Roth Capital started coverage on shares of ARS Pharmaceuticals in a report on Thursday, September 4th. They issued a “buy” rating and a $40.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Finally, Raymond James Financial set a $32.00 target price on shares of ARS Pharmaceuticals in a research note on Friday, September 26th.

ARS Pharmaceuticals Price Performance

SPRY stock opened at $9.90 on Friday. ARS Pharmaceuticals has a 1 year low of $9.34 and a 1 year high of $18.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.17 and a quick ratio of 5.98. The stock has a market cap of $978.42 million, a price-to-earnings ratio of -20.20 and a beta of 0.84. The company has a 50 day simple moving average of $11.24 and a 200 day simple moving average of $14.02.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.05). The firm had revenue of $15.72 million during the quarter, compared to the consensus estimate of $12.92 million. ARS Pharmaceuticals had a negative net margin of 42.74% and a negative return on equity of 21.85%. Research analysts anticipate that ARS Pharmaceuticals will post -0.55 EPS for the current fiscal year.

Insider Activity at ARS Pharmaceuticals

In other news, insider Sarina Tanimoto sold 37,656 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $14.09, for a total transaction of $530,573.04. Following the sale, the insider owned 1,247,447 shares in the company, valued at approximately $17,576,528.23. The trade was a 2.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kathleen D. Scott sold 12,500 shares of the business’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $15.00, for a total value of $187,500.00. Following the completion of the transaction, the chief financial officer directly owned 10,042 shares of the company’s stock, valued at approximately $150,630. This trade represents a 55.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,500 shares of company stock worth $1,615,759 over the last quarter. Corporate insiders own 33.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC increased its stake in ARS Pharmaceuticals by 243.7% in the third quarter. CWM LLC now owns 2,547 shares of the company’s stock worth $26,000 after purchasing an additional 1,806 shares during the period. ANTIPODES PARTNERS Ltd acquired a new stake in ARS Pharmaceuticals in the first quarter worth about $37,000. PNC Financial Services Group Inc. boosted its holdings in ARS Pharmaceuticals by 78,100.0% in the first quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company’s stock worth $49,000 after acquiring an additional 3,905 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in ARS Pharmaceuticals by 52.8% in the second quarter. Osaic Holdings Inc. now owns 5,215 shares of the company’s stock worth $91,000 after acquiring an additional 1,803 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in shares of ARS Pharmaceuticals by 16.1% in the second quarter. Ameritas Investment Partners Inc. now owns 5,598 shares of the company’s stock worth $98,000 after purchasing an additional 777 shares during the last quarter. 68.16% of the stock is currently owned by institutional investors.

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.