ARS Pharmaceuticals (NASDAQ:SPRY) Stock Price Down 5.7% – What’s Next?

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) traded down 5.7% on Monday . The stock traded as low as $7.71 and last traded at $7.7060. 938,212 shares traded hands during trading, a decline of 34% from the average session volume of 1,428,559 shares. The stock had previously closed at $8.17.

Analyst Upgrades and Downgrades

SPRY has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, January 21st. Leerink Partners set a $26.00 price target on ARS Pharmaceuticals and gave the stock an “outperform” rating in a report on Tuesday, March 10th. Finally, Zacks Research upgraded ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $29.33.

ARS Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 1.47, a current ratio of 7.28 and a quick ratio of 7.06. The stock has a fifty day moving average price of $9.60 and a two-hundred day moving average price of $9.81. The company has a market cap of $762.33 million, a P/E ratio of -4.40 and a beta of 0.78.

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

Institutional Trading of ARS Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. CWM LLC lifted its position in ARS Pharmaceuticals by 243.7% in the third quarter. CWM LLC now owns 2,547 shares of the company’s stock worth $26,000 after purchasing an additional 1,806 shares during the period. Torren Management LLC bought a new stake in ARS Pharmaceuticals in the fourth quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of ARS Pharmaceuticals by 25.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company’s stock worth $56,000 after purchasing an additional 982 shares in the last quarter. Osterweis Capital Management Inc. acquired a new position in ARS Pharmaceuticals in the fourth quarter worth approximately $65,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of ARS Pharmaceuticals by 197.5% in the third quarter. Russell Investments Group Ltd. now owns 6,668 shares of the company’s stock valued at $67,000 after buying an additional 4,427 shares in the last quarter. 68.16% of the stock is owned by institutional investors and hedge funds.

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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.