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

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have earned a consensus recommendation of “Buy” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Five equities research 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 objective among brokers that have covered the stock in the last year is $31.00.

A number of equities research analysts recently issued reports on SPRY shares. Leerink Partners upped their price objective on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, January 13th. William Blair restated an “outperform” rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Scotiabank started coverage on ARS Pharmaceuticals in a report on Friday, March 7th. They issued a “sector outperform” rating and a $30.00 price objective on the stock. Raymond James increased their price objective 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. Finally, Oppenheimer assumed coverage on ARS Pharmaceuticals in a research report on Monday, February 10th. They issued an “outperform” rating and a $40.00 target price on the stock.

ARS Pharmaceuticals Stock Down 4.5 %

ARS Pharmaceuticals stock opened at $12.80 on Wednesday. The company has a fifty day simple moving average of $12.09 and a 200-day simple moving average of $13.09. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -25.10 and a beta of 1.03. ARS Pharmaceuticals has a 52-week low of $7.55 and a 52-week high of $18.51.

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

Insider Buying and Selling

In related news, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals 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 transaction, the insider now owns 7,696 shares in the company, valued at $107,744. The trade was a 56.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Laura Shawver sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.10, for a total transaction of $555,000.00. Following the transaction, the director now owns 210,346 shares of the company’s stock, valued at $2,334,840.60. This trade represents a 19.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,600 shares of company stock valued at $1,866,516 in the last three months. 40.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several large investors have recently bought and sold shares of SPRY. Bernard Wealth Management Corp. acquired a new position in shares of ARS Pharmaceuticals during the 4th quarter worth about $27,000. KLP Kapitalforvaltning AS acquired a new position in ARS Pharmaceuticals in the fourth quarter valued at approximately $73,000. BNP Paribas Financial Markets purchased a new position in ARS Pharmaceuticals in the fourth quarter valued at approximately $75,000. Ball & Co Wealth Management Inc. purchased a new position in ARS Pharmaceuticals in the fourth quarter valued at approximately $105,000. Finally, Compass Capital Corp MA ADV acquired a new stake in ARS Pharmaceuticals during the fourth quarter worth approximately $106,000. Hedge funds and other institutional investors 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.