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

Key Points

• ARS Pharmaceuticals, Inc. has a consensus recommendation of "Buy" from six analysts, with an average 12-month price target of $31.00.
• Insider activity includes CEO Richard E. Lowenthal selling 50,000 shares at $14.49, reducing his ownership by 4.01%, and Eric Karas selling 15,000 shares at $16.99, a decrease of 59.25% in his position.
• For the last quarter, ARS Pharmaceuticals reported a revenue of $15.72 million but a loss of ($0.46) EPS, missing estimates by $0.05.

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) has been given a consensus rating of "Buy" by the six brokerages that are covering the stock, Marketbeat Ratings reports. Five investment 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 target among brokerages that have updated their coverage on the stock in the last year is $31.00.

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

ARS Pharmaceuticals Price Performance

Shares of SPRY stock traded down $0.50 during trading on Friday, hitting $11.12. The company had a trading volume of 4,862,457 shares, compared to its average volume of 1,630,441. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.98 and a current ratio of 6.17. The firm has a market capitalization of $1.10 billion, a P/E ratio of -22.69 and a beta of 0.88. The stock's 50-day moving average price is $16.46 and its 200 day moving average price is $14.42. ARS Pharmaceuticals has a one year low of $10.00 and a one year high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.46) EPS for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.05). The company had revenue of $15.72 million for the quarter, compared to the consensus estimate of $12.92 million. ARS Pharmaceuticals had a negative return on equity of 21.85% and a negative net margin of 42.74%. Equities analysts expect that ARS Pharmaceuticals will post -0.55 EPS for the current fiscal year.

Insider Transactions at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, CFO Kathleen D. Scott sold 12,500 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $15.00, for a total transaction of $187,500.00. Following the completion of the sale, the chief financial officer directly owned 10,042 shares in the company, valued at $150,630. This represents a 55.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard E. Lowenthal sold 50,000 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $14.49, for a total value of $724,500.00. Following the completion of the sale, the chief executive officer directly owned 1,196,494 shares in the company, valued at approximately $17,337,198.06. This represents a 4.01% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 882,649 shares of company stock worth $15,773,760. Corporate insiders own 33.50% of the company's stock.

Institutional Trading of ARS Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. grew its position in ARS Pharmaceuticals by 1.1% in the first quarter. Alliancebernstein L.P. now owns 3,922,805 shares of the company's stock valued at $49,349,000 after acquiring an additional 42,071 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of ARS Pharmaceuticals by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,488,293 shares of the company's stock valued at $43,883,000 after purchasing an additional 23,341 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of ARS Pharmaceuticals in the 2nd quarter valued at approximately $30,154,000. Cormorant Asset Management LP grew its holdings in shares of ARS Pharmaceuticals by 220.0% during the 1st quarter. Cormorant Asset Management LP now owns 1,600,000 shares of the company's stock valued at $20,128,000 after purchasing an additional 1,100,000 shares during the last quarter. Finally, Aberdeen Group plc increased its position in ARS Pharmaceuticals by 49.9% during the 2nd quarter. Aberdeen Group plc now owns 1,502,575 shares of the company's stock worth $26,220,000 after purchasing an additional 499,916 shares in the last quarter. 68.16% of the stock is currently owned by 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.