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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has been assigned an average rating of “Buy” from the six brokerages that are presently covering the firm, Marketbeat.com 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 12-month price objective among brokers that have issued a report on the stock in the last year is $24.00.

Several research firms have recently weighed in on SPRY. Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $18.00 to $22.00 in a research note on Tuesday, August 13th. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of ARS Pharmaceuticals in a report on Tuesday. Leerink Partners upped their target price on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, William Blair raised ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th.

ARS Pharmaceuticals Stock Up 1.6 %

NASDAQ:SPRY opened at $13.88 on Wednesday. ARS Pharmaceuticals has a fifty-two week low of $3.35 and a fifty-two week high of $16.50. The stock has a market cap of $1.34 billion, a PE ratio of -26.69 and a beta of 0.91. The firm’s fifty day simple moving average is $12.80 and its 200-day simple moving average is $10.52.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its 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 analysts’ expectations of $2.00 million. Equities analysts anticipate that ARS Pharmaceuticals will post -0.66 earnings per share for the current year.

Insider Activity

In other news, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the transaction, the insider now directly owns 5,693 shares of the company’s stock, valued at $79,702. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Kathleen D. Scott sold 12,500 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $16.00, for a total transaction of $200,000.00. Following the completion of the sale, the chief financial officer now owns 13,199 shares in the company, valued at approximately $211,184. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric Karas sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the sale, the insider now directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 943,395 shares of company stock worth $12,688,032. Corporate insiders own 40.10% of the company’s stock.

Hedge Funds Weigh In On ARS Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its stake in ARS Pharmaceuticals by 66.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 18,453 shares of the company’s stock worth $189,000 after purchasing an additional 7,348 shares during the period. FAS Wealth Partners Inc. grew its stake in ARS Pharmaceuticals by 31.5% during the first quarter. FAS Wealth Partners Inc. now owns 60,470 shares of the company’s stock worth $618,000 after buying an additional 14,500 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of ARS Pharmaceuticals during the first quarter worth approximately $142,000. Capstone Investment Advisors LLC bought a new position in shares of ARS Pharmaceuticals in the first quarter valued at approximately $739,000. Finally, GSA Capital Partners LLP raised its stake in shares of ARS Pharmaceuticals by 11.7% in the first quarter. GSA Capital Partners LLP now owns 128,889 shares of the company’s stock valued at $1,317,000 after acquiring an additional 13,545 shares during the last quarter. 68.16% of the stock is currently owned by institutional investors.

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.