Brokerages Set ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Target Price at $31.00

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) have earned an average recommendation of "Buy" from the six brokerages that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $31.00.

Separately, Wall Street Zen upgraded ARS Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, June 28th.

ARS Pharmaceuticals Stock Performance

Shares of SPRY traded down $0.29 during trading hours on Friday, reaching $17.69. 1,112,986 shares of the company's stock traded hands, compared to its average volume of 1,349,998. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -110.56 and a beta of 0.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 11.00 and a quick ratio of 10.74. ARS Pharmaceuticals has a twelve month low of $8.91 and a twelve month high of $18.90. The business's fifty day simple moving average is $15.13 and its two-hundred day simple moving average is $13.35.

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

Insider Buying and Selling at ARS Pharmaceuticals

In other news, insider Eric Karas sold 15,000 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $16.99, for a total transaction of $254,850.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alexander A. Fitzpatrick sold 102,969 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $14.10, for a total value of $1,451,862.90. Following the sale, the insider directly owned 89,613 shares of the company's stock, valued at approximately $1,263,543.30. This represents a 53.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,043,118 shares of company stock valued at $18,024,863 over the last 90 days. 33.50% of the stock is owned by insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Bernard Wealth Management Corp. purchased a new stake in ARS Pharmaceuticals in the 4th quarter worth about $27,000. ANTIPODES PARTNERS Ltd purchased a new stake in ARS Pharmaceuticals in the 1st quarter worth about $37,000. PNC Financial Services Group Inc. lifted its stake in ARS Pharmaceuticals by 78,100.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company's stock worth $49,000 after acquiring an additional 3,905 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in ARS Pharmaceuticals in the 4th quarter worth about $73,000. Finally, BNP Paribas Financial Markets purchased a new stake in ARS Pharmaceuticals in the 4th quarter worth about $75,000. 68.16% of the stock is owned by hedge funds and other institutional investors.

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.