Brokerages Set ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) PT at $33.00

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have earned an average recommendation of “Hold” from the six ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $33.00.

A number of research analysts recently issued reports on SPRY shares. Zacks Research downgraded shares of ARS Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Roth Mkm initiated coverage on shares of ARS Pharmaceuticals in a research report on Tuesday, November 4th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research note on Wednesday, January 21st.

Insider Activity

In other news, insider Justin Chakma sold 166,380 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $8.87, for a total value of $1,475,790.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Brian Dorsey sold 21,828 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $8.71, for a total value of $190,121.88. Following the completion of the transaction, the chief operating officer directly owned 10,789 shares of the company’s stock, valued at $93,972.19. This trade represents a 66.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 33.50% of the company’s stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its holdings in shares of ARS Pharmaceuticals by 1,075.3% in the 1st quarter. Royal Bank of Canada now owns 18,547 shares of the company’s stock valued at $234,000 after purchasing an additional 16,969 shares during the last quarter. AQR Capital Management LLC acquired a new position in ARS Pharmaceuticals during the first quarter worth approximately $140,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in ARS Pharmaceuticals by 13.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 279,840 shares of the company’s stock worth $3,520,000 after buying an additional 32,526 shares during the period. Janney Montgomery Scott LLC lifted its stake in ARS Pharmaceuticals by 31.8% in the second quarter. Janney Montgomery Scott LLC now owns 591,425 shares of the company’s stock valued at $10,320,000 after buying an additional 142,756 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC boosted its holdings in shares of ARS Pharmaceuticals by 57.8% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 68,094 shares of the company’s stock valued at $1,188,000 after acquiring an additional 24,950 shares during the period. 68.16% of the stock is owned by hedge funds and other institutional investors.

ARS Pharmaceuticals Trading Up 3.1%

SPRY opened at $10.30 on Tuesday. The business has a fifty day moving average price of $10.62 and a 200 day moving average price of $11.37. The company has a debt-to-equity ratio of 1.14, a current ratio of 6.66 and a quick ratio of 6.51. ARS Pharmaceuticals has a 12 month low of $6.66 and a 12 month high of $18.90. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -12.72 and a beta of 0.79.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.07). ARS Pharmaceuticals had a negative net margin of 56.06% and a negative return on equity of 38.77%. The company had revenue of $32.50 million during the quarter, compared to analysts’ expectations of $28.87 million. Sell-side analysts expect that ARS Pharmaceuticals will post -0.55 earnings per share for the current fiscal 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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.