ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives $31.00 Consensus PT from Analysts

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) has been assigned an average recommendation of "Buy" from the six ratings firms that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings 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.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, CFO Kathleen D. Scott sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $14.10, for a total transaction of $705,000.00. Following the transaction, the chief financial officer directly owned 7,424 shares in the company, valued at $104,678.40. The trade was a 87.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alexander A. Fitzpatrick sold 102,969 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $14.10, for a total value of $1,451,862.90. Following the transaction, the insider owned 89,613 shares in the company, 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. Over the last quarter, insiders sold 1,043,118 shares of company stock worth $18,024,863. 33.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Harbour Capital Advisors LLC boosted its holdings in shares of ARS Pharmaceuticals by 102.3% during the 2nd quarter. Harbour Capital Advisors LLC now owns 57,950 shares of the company's stock worth $971,000 after purchasing an additional 29,300 shares during the last quarter. Rhumbline Advisers lifted its holdings in ARS Pharmaceuticals by 7.1% in the first quarter. Rhumbline Advisers now owns 69,766 shares of the company's stock valued at $878,000 after acquiring an additional 4,603 shares during the last quarter. Diker Management LLC acquired a new position in ARS Pharmaceuticals in the first quarter valued at approximately $264,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in ARS Pharmaceuticals by 13.2% in 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 valued at $3,520,000 after acquiring an additional 32,526 shares during the last quarter. Finally, Octagon Capital Advisors LP acquired a new position in ARS Pharmaceuticals in the first quarter valued at approximately $7,862,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

ARS Pharmaceuticals Price Performance

Shares of ARS Pharmaceuticals stock traded up $0.21 on Friday, hitting $17.90. The company's stock had a trading volume of 926,501 shares, compared to its average volume of 1,351,844. The company has a debt-to-equity ratio of 0.30, a quick ratio of 10.74 and a current ratio of 11.00. ARS Pharmaceuticals has a 1 year low of $8.91 and a 1 year high of $18.90. The firm has a fifty day moving average price of $15.19 and a 200-day moving average price of $13.43. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -111.87 and a beta of 0.90.

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 the consensus estimate of ($0.35). ARS Pharmaceuticals had a negative return on equity of 6.94% and a negative net margin of 16.11%. The firm had revenue of $7.97 million during the quarter, compared to analyst estimates of $7.48 million. As a group, sell-side analysts anticipate that ARS Pharmaceuticals will post -0.55 earnings per share for the current fiscal 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.