ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives Average Recommendation of “Buy” from Analysts

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has been given an average recommendation of “Buy” by the six analysts that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $24.00.

A number of research analysts have weighed in on SPRY shares. William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Raymond James upgraded ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $18.00 to $22.00 in a report on Tuesday, August 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price target on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Finally, Leerink Partners lifted their price target on ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, September 20th.

ARS Pharmaceuticals Stock Up 4.4 %

ARS Pharmaceuticals stock opened at $14.52 on Wednesday. ARS Pharmaceuticals has a 52-week low of $3.35 and a 52-week high of $16.50. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -30.89 and a beta of 0.91. The firm’s fifty day moving average is $13.02 and its 200 day moving average is $10.61.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The business had revenue of $0.50 million for the quarter, compared to analyst estimates of $2.00 million. On average, equities research analysts anticipate that ARS Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ARS Pharmaceuticals news, insider Eric Karas sold 10,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the transaction, the insider now owns 5,693 shares in the company, valued at approximately $79,702. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Eric Karas sold 10,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the transaction, the insider now owns 5,693 shares in the company, valued at $79,702. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard E. Lowenthal sold 100,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $11.40, for a total value of $1,140,000.00. Following the completion of the transaction, the chief executive officer now owns 1,547,447 shares of the company’s stock, valued at approximately $17,640,895.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,043,395 shares of company stock worth $14,071,032. 40.10% of the stock is owned by corporate insiders.

Institutional Trading of ARS Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. acquired a new stake in ARS Pharmaceuticals in the 1st quarter worth about $60,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of ARS Pharmaceuticals by 151.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock valued at $63,000 after purchasing an additional 4,472 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of ARS Pharmaceuticals in the 2nd quarter valued at about $87,000. Paloma Partners Management Co acquired a new position in shares of ARS Pharmaceuticals in the 1st quarter valued at about $103,000. Finally, SG Americas Securities LLC acquired a new position in shares of ARS Pharmaceuticals in the 1st quarter valued at about $119,000. 68.16% of the stock is owned by institutional investors and hedge funds.

ARS Pharmaceuticals Company 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.