ARS Pharmaceuticals Inc (NASDAQ:SPRY) price on Wednesday, October 23, fall -4.41% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $16.05.
A look at the stock’s price movement, the close in the last trading session was $16.79, moving within a range at $15.575 and $16.685. Turning to its 52-week performance, $17.08 and $3.38 were the 52-week high and 52-week low respectively. Overall, SPRY moved 17.32% over the past month.
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ARS Pharmaceuticals Inc’s market cap currently stands at around $1.56 billion, with investors looking forward to this quarter’s earnings report slated for in November.
Wall Street analysts have also projected the company’s year-on-year revenue to grow to 5.11M, representing a 16,933.30% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SPRY is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 4 recommend SPRY as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SPRY’s current price about 7.54% and 15.78% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 61.65, while 7-day volatility ratio is 5.19% and 5.79% in the 30-day chart. Further, ARS Pharmaceuticals Inc (SPRY) has a beta value of 0.91, and an average true range (ATR) of 0.86. Analysts have given the company’s stock an average 52-week price target of $22, forecast between a low of $18 and high of $30. Looking at the price targets, the low is -12.15% off current price level while to achieve the yearly target high, price needs to move -86.92%. Nonetheless, investors will most likely welcome a -37.07% jump to $22 which is the analysts’ median price.
If we refocus on ARS Pharmaceuticals Inc (NASDAQ:SPRY), historical trading data shows that trading volumes averaged 0.94 over the past 10 days and 1.12 million over the past 3 months. The company’s latest data on shares outstanding shows there are 96.41 million shares.
The 49.24% of ARS Pharmaceuticals Inc’s shares are in the hands of company insiders while institutional holders own 39.06% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 11.1 million on 2024-09-30, giving us a short ratio of 10.96. The data shows that as of 2024-09-30 short interest in ARS Pharmaceuticals Inc (SPRY) stood at 2157.0 of shares outstanding, with shares short rising to 10.96 million registered in 2024-08-30. Current price change has pushed the stock 192.88% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SPRY stock continues to rise going into the next quarter.
