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

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

Several research firms have issued reports on SPRY. Scotiabank began coverage on shares of ARS Pharmaceuticals in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 price objective for the company. Oppenheimer began coverage on shares of ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an "outperform" rating and a $40.00 price objective for the company. William Blair restated an "outperform" rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Finally, Wall Street Zen downgraded shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

ARS Pharmaceuticals Stock Performance

Shares of ARS Pharmaceuticals stock traded down $0.36 during trading hours on Thursday, reaching $14.62. 1,231,541 shares of the company were exchanged, compared to its average volume of 1,257,625. ARS Pharmaceuticals has a 1 year low of $7.55 and a 1 year high of $18.51. The stock's fifty day moving average is $13.68 and its 200 day moving average is $12.83. The firm has a market cap of $1.44 billion, a PE ratio of -28.67 and a beta of 0.84.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($0.35) EPS for the quarter, hitting analysts' consensus estimates of ($0.35). The firm had revenue of $7.97 million for the quarter, compared to analyst estimates of $7.48 million. Research analysts expect that ARS Pharmaceuticals will post -0.55 earnings per share for the current year.

Insider Transactions at ARS Pharmaceuticals

In related news, insider Eric Karas sold 10,000 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the sale, the insider now owns 7,696 shares in the company, valued at $107,744. This trade represents a 56.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Laura Shawver sold 49,600 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $11.21, for a total transaction of $556,016.00. Following the completion of the sale, the director now owns 210,346 shares of the company's stock, valued at approximately $2,357,978.66. The trade was a 19.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 382,571 shares of company stock worth $5,177,904. Company insiders own 33.50% of the company's stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in SPRY. Alliancebernstein L.P. lifted its position in ARS Pharmaceuticals by 5,168.4% in the fourth quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company's stock valued at $40,942,000 after purchasing an additional 3,807,074 shares during the period. MPM Bioimpact LLC acquired a new stake in ARS Pharmaceuticals in the first quarter valued at about $16,519,000. Alyeska Investment Group L.P. lifted its position in ARS Pharmaceuticals by 903.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company's stock valued at $13,227,000 after purchasing an additional 1,128,724 shares during the period. Cormorant Asset Management LP lifted its position in ARS Pharmaceuticals by 220.0% in the first 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 period. Finally, Aberdeen Group plc acquired a new stake in ARS Pharmaceuticals in the first quarter valued at about $12,613,000. Institutional investors and hedge funds own 68.16% of the company's stock.

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.