ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Given Average Recommendation of "Buy" by Brokerages

Key Points

• ARS Pharmaceuticals, Inc. has received a consensus rating of "Buy" from six research firms, with an average price target of $31.00.
• The company's recent quarterly earnings report indicated earnings per share of ($0.35), meeting analysts' expectations, while revenue of $7.97 million surpassed projections.
• Institutional investors hold a significant stake in ARS Pharmaceuticals, owning 68.16% of the company's stock, with notable increases by firms like Allspring Global Investments and Wells Fargo.

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) has been given a consensus rating of "Buy" by the six research firms that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $31.00.

Separately, Wall Street Zen lowered ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th.

ARS Pharmaceuticals Price Performance

ARS Pharmaceuticals stock opened at $17.38 on Tuesday. The company has a current ratio of 11.00, a quick ratio of 10.74 and a debt-to-equity ratio of 0.30. The company has a fifty day simple moving average of $16.48 and a 200-day simple moving average of $14.16. The stock has a market cap of $1.71 billion, a P/E ratio of -108.62 and a beta of 0.90. ARS Pharmaceuticals has a 12-month low of $8.91 and a 12-month high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.35). The firm had revenue of $7.97 million during the quarter, compared to analysts' expectations of $7.48 million. ARS Pharmaceuticals had a negative net margin of 16.11% and a negative return on equity of 6.94%. Equities analysts expect that ARS Pharmaceuticals will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Eric Karas sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $16.99, for a total value of $254,850.00. Following the transaction, the insider directly owned 10,315 shares of the company's stock, valued at $175,251.85. This represents a 59.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder James E. Flynn sold 740,149 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $18.46, for a total transaction of $13,663,150.54. Following the completion of the sale, the insider directly owned 4,887,254 shares in the company, valued at $90,218,708.84. This represents a 13.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,043,118 shares of company stock valued at $18,024,863. Company insiders own 33.50% of the company's stock.

Institutional Trading of ARS Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its stake in shares of ARS Pharmaceuticals by 7.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 368,556 shares of the company's stock valued at $4,636,000 after purchasing an additional 24,385 shares during the period. Wells Fargo & Company MN increased its position in ARS Pharmaceuticals by 47.1% in the 4th quarter. Wells Fargo & Company MN now owns 41,701 shares of the company's stock valued at $440,000 after acquiring an additional 13,361 shares during the period. Oppenheimer & Co. Inc. bought a new stake in ARS Pharmaceuticals during the 1st quarter valued at $189,000. Vanguard Group Inc. boosted its position in ARS Pharmaceuticals by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company's stock worth $36,555,000 after acquiring an additional 115,656 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of ARS Pharmaceuticals by 4.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 60,294 shares of the company's stock worth $636,000 after purchasing an additional 2,670 shares in the last quarter. 68.16% of the stock is currently 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.

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