Northland Securities Begins Coverage on ARS Pharmaceuticals (NASDAQ:SPRY)

Analysts at Northland Securities initiated coverage on shares of ARS Pharmaceuticals (NASDAQ:SPRY) in a research note issued to investors on Thursday. The firm set an “outperform” rating and a $25.00 price target on the stock. Northland Securities’ price objective would suggest a potential upside of 205.25% from the company’s previous close.

A number of other brokerages have also recently issued reports on SPRY. Leerink Partners set a $26.00 target price on shares of ARS Pharmaceuticals and gave the company an “outperform” rating in a report on Tuesday, March 10th. Zacks Research upgraded ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $28.25.

ARS Pharmaceuticals Trading Up 0.5%

Shares of SPRY opened at $8.19 on Thursday. The firm has a market cap of $813.27 million, a P/E ratio of -4.68 and a beta of 0.86. ARS Pharmaceuticals has a fifty-two week low of $6.66 and a fifty-two week high of $18.90. The company has a debt-to-equity ratio of 1.47, a quick ratio of 7.06 and a current ratio of 7.28. The business has a 50-day moving average of $8.90 and a 200 day moving average of $9.63.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its earnings results on Monday, March 9th. The company reported ($0.42) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.42). ARS Pharmaceuticals had a negative net margin of 203.25% and a negative return on equity of 100.29%. The firm had revenue of $28.09 million during the quarter, compared to analyst estimates of $25.58 million. As a group, research analysts forecast that ARS Pharmaceuticals will post -0.55 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SPRY. Mirae Asset Global Investments Co. Ltd. grew its position in shares of ARS Pharmaceuticals by 25.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company’s stock valued at $56,000 after purchasing an additional 982 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of ARS Pharmaceuticals by 3.8% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,994 shares of the company’s stock worth $596,000 after buying an additional 1,234 shares in the last quarter. ProShare Advisors LLC raised its position in shares of ARS Pharmaceuticals by 11.3% in the fourth quarter. ProShare Advisors LLC now owns 15,139 shares of the company’s stock worth $176,000 after buying an additional 1,532 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in ARS Pharmaceuticals by 8.9% during the third quarter. Belpointe Asset Management LLC now owns 18,860 shares of the company’s stock valued at $190,000 after buying an additional 1,537 shares during the period. Finally, FAS Wealth Partners Inc. grew its position in ARS Pharmaceuticals by 0.9% during the fourth quarter. FAS Wealth Partners Inc. now owns 202,407 shares of the company’s stock worth $2,358,000 after buying an additional 1,787 shares in the last quarter. 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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.