ARS Pharmaceuticals (NASDAQ:SPRY) Stock Price Up 4.9% – Should You Buy?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s share price was up 4.9% during mid-day trading on Wednesday . The company traded as high as $13.04 and last traded at $13.15. Approximately 148,434 shares traded hands during trading, a decline of 86% from the average daily volume of 1,076,877 shares. The stock had previously closed at $12.53.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SPRY. Raymond James lifted their price target on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 14th. William Blair reissued an “outperform” rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Scotiabank began coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They set a “sector outperform” rating and a $30.00 price objective for the company. Oppenheimer started coverage on ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an “outperform” rating and a $40.00 target price on the stock. Finally, Leerink Partners upped their price target on ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ARS Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $31.00.

ARS Pharmaceuticals Trading Up 2.7 %

The stock’s 50 day moving average is $12.11 and its two-hundred day moving average is $13.09. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -26.27 and a beta of 1.03.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings data on Thursday, March 20th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.56. The business had revenue of $86.58 million during the quarter, compared to the consensus estimate of $15.46 million. On average, research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals 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 transaction, the insider now owns 7,696 shares of the company’s stock, valued at $107,744. This trade represents a 56.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Laura Shawver sold 50,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $11.10, for a total transaction of $555,000.00. Following the completion of the sale, the director now directly owns 210,346 shares in the company, valued at approximately $2,334,840.60. The trade was a 19.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 159,600 shares of company stock worth $1,866,516. Corporate insiders own 40.10% of the company’s stock.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of SPRY. Bernard Wealth Management Corp. acquired a new position in ARS Pharmaceuticals in the 4th quarter valued at about $27,000. KLP Kapitalforvaltning AS acquired a new position in shares of ARS Pharmaceuticals in the fourth quarter valued at approximately $73,000. BNP Paribas Financial Markets bought a new position in shares of ARS Pharmaceuticals during the fourth quarter worth approximately $75,000. Ball & Co Wealth Management Inc. bought a new position in shares of ARS Pharmaceuticals during the fourth quarter worth approximately $105,000. Finally, Compass Capital Corp MA ADV acquired a new stake in ARS Pharmaceuticals during the 4th quarter worth approximately $106,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

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.