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

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

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

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 completion of the transaction, the insider owned 10,315 shares in the company, valued at $175,251.85. This represents a 59.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brent L. Saunders sold 120,000 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $14.25, for a total value of $1,710,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,043,118 shares of company stock worth $18,024,863. Insiders own 33.50% of the company's stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC lifted its stake in ARS Pharmaceuticals by 47.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 38,050 shares of the company's stock valued at $401,000 after buying an additional 12,200 shares during the period. Charles Schwab Investment Management Inc. grew its stake in ARS Pharmaceuticals by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 427,477 shares of the company's stock valued at $4,510,000 after purchasing an additional 3,530 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of ARS Pharmaceuticals in the fourth quarter valued at approximately $6,576,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in ARS Pharmaceuticals by 4.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 80,641 shares of the company's stock worth $851,000 after purchasing an additional 3,433 shares during the last quarter. Finally, Royce & Associates LP increased its stake in ARS Pharmaceuticals by 34.4% during the 4th quarter. Royce & Associates LP now owns 929,613 shares of the company's stock worth $9,807,000 after acquiring an additional 238,158 shares during the period. 68.16% of the stock is currently owned by institutional investors and hedge funds.

ARS Pharmaceuticals Price Performance

ARS Pharmaceuticals stock opened at $17.98 on Friday. The business's 50 day simple moving average is $15.13 and its 200 day simple moving average is $13.35. ARS Pharmaceuticals has a 12 month low of $8.91 and a 12 month high of $18.90. 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 market cap of $1.77 billion, a price-to-earnings ratio of -112.37 and a beta of 0.90.

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

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