Analysts Set ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Target Price at $31.80

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $31.80.

Several analysts have recently issued reports on SPRY shares. Zacks Research downgraded ARS Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. Wall Street Zen lowered ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. Roth Capital assumed coverage on ARS Pharmaceuticals in a research report on Tuesday, November 4th. They set a “buy” rating and a $30.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Raymond James Financial set a $32.00 price objective on shares of ARS Pharmaceuticals in a research note on Friday, September 26th.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Justin Chakma sold 166,380 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $8.87, for a total transaction of $1,475,790.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Brian Dorsey sold 21,828 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $8.71, for a total value of $190,121.88. Following the completion of the sale, the chief operating officer directly owned 10,789 shares in the company, valued at approximately $93,972.19. This represents a 66.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 33.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SPRY. Rubric Capital Management LP boosted its position in shares of ARS Pharmaceuticals by 247.5% in the third quarter. Rubric Capital Management LP now owns 4,500,000 shares of the company’s stock valued at $45,225,000 after acquiring an additional 3,205,122 shares during the period. Alliancebernstein L.P. raised its stake in ARS Pharmaceuticals by 1.1% during the 1st quarter. Alliancebernstein L.P. now owns 3,922,805 shares of the company’s stock valued at $49,349,000 after purchasing an additional 42,071 shares during the last quarter. Vanguard Group Inc. raised its stake in ARS Pharmaceuticals by 7.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,500,303 shares of the company’s stock valued at $35,178,000 after purchasing an additional 237,630 shares during the last quarter. Aberdeen Group plc boosted its holdings in ARS Pharmaceuticals by 106.1% in the 3rd quarter. Aberdeen Group plc now owns 3,097,022 shares of the company’s stock valued at $31,125,000 after purchasing an additional 1,594,447 shares during the period. Finally, Franklin Resources Inc. grew its position in ARS Pharmaceuticals by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,398,012 shares of the company’s stock worth $24,100,000 after purchasing an additional 569,257 shares during the last quarter. 68.16% of the stock is owned by institutional investors.

ARS Pharmaceuticals Price Performance

ARS Pharmaceuticals stock opened at $7.09 on Thursday. The company has a current ratio of 6.66, a quick ratio of 6.51 and a debt-to-equity ratio of 1.14. ARS Pharmaceuticals has a 1-year low of $6.93 and a 1-year high of $18.90. The firm’s fifty day simple moving average is $9.55 and its 200-day simple moving average is $13.24. The company has a market capitalization of $700.85 million, a P/E ratio of -8.75 and a beta of 0.83.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.07). The business had revenue of $32.50 million during the quarter, compared to the consensus estimate of $28.87 million. ARS Pharmaceuticals had a negative return on equity of 38.77% and a negative net margin of 56.06%. Sell-side analysts forecast 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.