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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has earned a consensus rating of “Buy” from the six analysts that are covering the company, Marketbeat.com reports. Four 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 issued a report on the stock in the last year is $24.00.

SPRY has been the subject of a number of analyst reports. Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $18.00 to $22.00 in a research report on Tuesday, August 13th. William Blair upgraded shares of ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price target on shares of ARS Pharmaceuticals in a report on Monday, September 16th. Finally, Leerink Partners upped their price objective on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday.

Insider Buying and Selling

In other ARS Pharmaceuticals news, insider Sarina Tanimoto sold 100,000 shares of ARS Pharmaceuticals stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $9.62, for a total value of $962,000.00. Following the sale, the insider now owns 1,496,494 shares of the company’s stock, valued at $14,396,272.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Sarina Tanimoto sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $9.62, for a total transaction of $962,000.00. Following the completion of the sale, the insider now owns 1,496,494 shares in the company, valued at approximately $14,396,272.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter A. Thompson sold 407,700 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $13.56, for a total value of $5,528,412.00. Following the completion of the transaction, the director now owns 544,677 shares in the company, valued at approximately $7,385,820.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,043,395 shares of company stock valued at $13,650,032. 40.10% of the stock is owned by insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in ARS Pharmaceuticals during the first quarter worth about $60,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in ARS Pharmaceuticals by 151.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock worth $63,000 after buying an additional 4,472 shares during the period. Paloma Partners Management Co purchased a new position in ARS Pharmaceuticals in the 1st quarter valued at approximately $103,000. Principal Financial Group Inc. bought a new stake in ARS Pharmaceuticals during the 2nd quarter valued at $87,000. Finally, SG Americas Securities LLC purchased a new stake in shares of ARS Pharmaceuticals during the first quarter worth $119,000. Hedge funds and other institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Trading Down 0.6 %

ARS Pharmaceuticals stock opened at $14.77 on Friday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -28.40 and a beta of 0.90. The firm’s fifty day moving average price is $11.96 and its two-hundred day moving average price is $10.01. ARS Pharmaceuticals has a 1-year low of $2.75 and a 1-year high of $16.50.

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

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.