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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) has earned an average recommendation of "Buy" from the six research firms that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $31.00.

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

ARS Pharmaceuticals Stock Up 2.7 %

NASDAQ:SPRY traded up $0.37 during mid-day trading on Friday, reaching $14.14. 992,429 shares of the company were exchanged, compared to its average volume of 1,172,368. ARS Pharmaceuticals has a 12 month low of $7.55 and a 12 month high of $18.51. The company has a fifty day moving average of $12.56 and a 200 day moving average of $13.06. The stock has a market cap of $1.39 billion, a PE ratio of -27.73 and a beta of 0.86.

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

Insider Transactions at ARS Pharmaceuticals

In other news, Director Laura Shawver sold 50,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.31, for a total value of $615,500.00. Following the sale, the director now directly owns 210,346 shares of the company's stock, valued at approximately $2,589,359.26. This represents a 19.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Karas sold 10,000 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $14.00, for a total transaction of $140,000.00. Following the completion of the sale, the insider now directly owns 7,696 shares in the company, valued at approximately $107,744. The trade was a 56.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,602 shares of company stock valued at $1,926,541 in the last ninety days. 40.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SPRY. Alliancebernstein L.P. boosted its position in shares of ARS Pharmaceuticals by 5,168.4% during the 4th quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company's stock worth $40,942,000 after acquiring an additional 3,807,074 shares in the last quarter. Alyeska Investment Group L.P. boosted 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 buying an additional 1,128,724 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of ARS Pharmaceuticals during the fourth quarter worth $6,576,000. Millennium Management LLC lifted its holdings in shares of ARS Pharmaceuticals by 93.0% during the fourth quarter. Millennium Management LLC now owns 939,278 shares of the company's stock worth $9,909,000 after purchasing an additional 452,532 shares during the period. Finally, Peregrine Capital Management LLC acquired a new position in shares of ARS Pharmaceuticals during the fourth quarter worth $4,469,000. 68.16% of the stock is owned by institutional investors.

About ARS Pharmaceuticals

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.