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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has earned a consensus rating of “Buy” from the six research firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $22.75.

A number of analysts have commented on SPRY shares. William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Leerink Partners upped their price target on ARS Pharmaceuticals from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $18.00 to $22.00 in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of ARS Pharmaceuticals in a research note on Monday, September 9th.

ARS Pharmaceuticals Price Performance

SPRY stock opened at $13.30 on Friday. ARS Pharmaceuticals has a 1-year low of $2.55 and a 1-year high of $16.50. The business has a fifty day moving average price of $11.68 and a 200-day moving average price of $9.87. The stock has a market capitalization of $1.29 billion, a P/E ratio of -25.58 and a beta of 0.90.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $2.00 million. As a group, analysts anticipate that ARS Pharmaceuticals will post -0.66 earnings per share for the current year.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, insider Eric Karas sold 10,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 5,693 shares in the company, valued at $79,702. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Eric Karas sold 10,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 5,693 shares in the company, valued at $79,702. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Peter A. Thompson sold 83,695 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $13.00, for a total value of $1,088,035.00. The disclosure for this sale can be found here. Insiders have sold a total of 933,395 shares of company stock worth $12,217,032 over the last ninety days. Company insiders own 40.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. RA Capital Management L.P. boosted its position in ARS Pharmaceuticals by 14.8% during the 1st quarter. RA Capital Management L.P. now owns 10,860,977 shares of the company’s stock valued at $110,999,000 after acquiring an additional 1,401,299 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of ARS Pharmaceuticals by 37.0% in the 1st quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock worth $29,500,000 after purchasing an additional 779,969 shares in the last quarter. ClariVest Asset Management LLC acquired a new stake in shares of ARS Pharmaceuticals in the 1st quarter worth $2,790,000. Jacobs Levy Equity Management Inc. boosted its position in shares of 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 purchasing an additional 257,589 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of ARS Pharmaceuticals by 5.9% in the 4th quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock worth $22,460,000 after purchasing an additional 229,988 shares in the last quarter. 68.16% of the stock is currently owned by hedge funds and other 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.