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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has been given an average recommendation of “Buy” by the six brokerages that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $22.75.

A number of equities analysts have issued reports on the company. Cantor Fitzgerald assumed coverage on ARS Pharmaceuticals in a report on Tuesday, August 20th. They issued an “overweight” rating and a $30.00 target price for the company. Leerink Partners upped their price objective on ARS Pharmaceuticals from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Finally, Raymond James upgraded shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $18.00 to $22.00 in a research report on Tuesday, August 13th.

Insider Transactions at ARS Pharmaceuticals

In related news, CEO Richard E. Lowenthal sold 4,138 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $9.00, for a total value of $37,242.00. Following the sale, the chief executive officer now owns 1,594,328 shares in the company, valued at approximately $14,348,952. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Richard E. Lowenthal sold 4,138 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $9.00, for a total transaction of $37,242.00. Following the completion of the sale, the chief executive officer now owns 1,594,328 shares in the company, valued at approximately $14,348,952. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sarina Tanimoto sold 95,862 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $9.15, for a total transaction of $877,137.30. Following the sale, the insider now directly owns 1,546,494 shares in the company, valued at $14,150,420.10. The disclosure for this sale can be found here. Insiders sold a total of 949,700 shares of company stock valued at $12,043,376 in the last quarter. 40.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. grew its position in shares of ARS Pharmaceuticals by 14.8% in the 1st quarter. RA Capital Management L.P. now owns 10,860,977 shares of the company’s stock worth $110,999,000 after buying an additional 1,401,299 shares during the last quarter. Vanguard Group Inc. lifted its position in ARS Pharmaceuticals by 37.0% during the 1st quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock valued at $29,500,000 after acquiring an additional 779,969 shares during the period. ClariVest Asset Management LLC purchased a new stake in shares of ARS Pharmaceuticals in the first quarter worth $2,790,000. Jacobs Levy Equity Management Inc. raised its holdings in ARS Pharmaceuticals by 1,280.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 277,706 shares of the company’s stock worth $2,838,000 after acquiring an additional 257,589 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in ARS Pharmaceuticals by 5.9% during the 4th quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock valued at $22,460,000 after acquiring an additional 229,988 shares during the period. 68.16% of the stock is currently owned by hedge funds and other institutional investors.

ARS Pharmaceuticals Stock Performance

Shares of ARS Pharmaceuticals stock traded up $0.24 during midday trading on Tuesday, hitting $13.20. 876,687 shares of the company traded hands, compared to its average volume of 715,928. The firm’s fifty day moving average price is $10.43 and its 200-day moving average price is $9.36. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -24.92 and a beta of 0.87. ARS Pharmaceuticals has a 12 month low of $2.55 and a 12 month high of $16.50.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates 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 research analysts forecast that ARS Pharmaceuticals will post -0.66 earnings per share for the current year.

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.