ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives Average Recommendation of "Buy" from Analysts

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) have earned a consensus recommendation of "Buy" from the six analysts that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $31.00.

A number of equities analysts have issued reports on SPRY shares. Raymond James increased their price target on ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 14th. Leerink Partners raised their target price on ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an "outperform" rating in a research report on Monday, January 13th. Scotiabank started coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 price target on the stock. Oppenheimer began coverage on ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an "outperform" rating and a $40.00 price objective for the company. Finally, William Blair reaffirmed an "outperform" rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd.

ARS Pharmaceuticals Stock Performance

Shares of ARS Pharmaceuticals stock traded up $0.19 during trading on Friday, hitting $14.16. 931,502 shares of the company's stock were exchanged, compared to its average volume of 1,175,616. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -27.76 and a beta of 0.86. The business has a 50-day simple moving average of $12.73 and a 200-day simple moving average of $13.07. ARS Pharmaceuticals has a 52-week low of $7.55 and a 52-week high of $18.51.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its earnings results on Thursday, March 20th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.56. The company had revenue of $86.58 million during the quarter, compared to analysts' expectations of $15.46 million. On average, equities analysts anticipate that ARS Pharmaceuticals will post -0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Eric Karas sold 10,000 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $107,744. This represents a 56.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Laura Shawver sold 49,600 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $11.21, for a total transaction of $556,016.00. Following the sale, the director now owns 210,346 shares of the company's stock, valued at $2,357,978.66. This represents a 19.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,602 shares of company stock valued at $1,926,541. Insiders own 40.10% of the company's stock.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several large investors have recently modified their holdings of the business. Barclays PLC raised its holdings in ARS Pharmaceuticals by 189.7% in the 3rd quarter. Barclays PLC now owns 111,666 shares of the company's stock valued at $1,618,000 after buying an additional 73,127 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of ARS Pharmaceuticals by 93.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 344,171 shares of the company's stock valued at $3,631,000 after acquiring an additional 165,950 shares during the period. Peregrine Capital Management LLC acquired a new position in shares of ARS Pharmaceuticals in the 4th quarter worth approximately $4,469,000. Vanguard Group Inc. boosted its position in shares of ARS Pharmaceuticals by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company's stock worth $36,555,000 after purchasing an additional 115,656 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in ARS Pharmaceuticals by 0.8% in the 4th 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 during the last quarter. 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.