ARS Pharmaceuticals (NASDAQ:SPRY) Trading 7% Higher – Still a Buy?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s stock price traded up 7% during trading on Tuesday . The company traded as high as $9.23 and last traded at $9.4670. 178,582 shares traded hands during trading, a decline of 89% from the average session volume of 1,572,950 shares. The stock had previously closed at $8.85.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Zacks Research downgraded ARS Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Roth Mkm began coverage on shares of ARS Pharmaceuticals in a report on Tuesday, November 4th. They set a “buy” rating and a $30.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, ARS Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $30.67.

ARS Pharmaceuticals Stock Down 0.1%

The stock has a fifty day moving average price of $10.56 and a 200-day moving average price of $10.72. The firm has a market cap of $933.14 million, a PE ratio of -11.65 and a beta of 0.79. The company has a debt-to-equity ratio of 1.14, a quick ratio of 6.51 and a current ratio of 6.66.

Hedge Funds Weigh In On ARS Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rubric Capital Management LP raised its stake in shares of ARS Pharmaceuticals by 37.8% during the fourth quarter. Rubric Capital Management LP now owns 6,200,000 shares of the company’s stock valued at $72,230,000 after purchasing an additional 1,700,000 shares during the period. Aberdeen Group plc grew its holdings in ARS Pharmaceuticals by 14.8% during the 4th quarter. Aberdeen Group plc now owns 3,556,049 shares of the company’s stock valued at $41,428,000 after purchasing an additional 459,027 shares in the last quarter. Vanguard Group Inc. increased its stake in ARS Pharmaceuticals by 7.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,500,303 shares of the company’s stock worth $35,178,000 after buying an additional 237,630 shares during the period. State Street Corp lifted its holdings in ARS Pharmaceuticals by 11.3% in the 4th quarter. State Street Corp now owns 3,223,581 shares of the company’s stock worth $37,555,000 after buying an additional 328,325 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in ARS Pharmaceuticals in the 4th quarter worth $36,912,000. 68.16% of the stock is owned by institutional investors and hedge funds.

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.