ARS Pharmaceuticals (NASDAQ:SPRY) Shares Up 8% – Should You Buy?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s share price was up 8% on Thursday . The company traded as high as $8.70 and last traded at $8.5350. Approximately 493,047 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 1,452,389 shares. The stock had previously closed at $7.90.

Analyst Upgrades and Downgrades

A number of research firms 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 research note on Tuesday, March 10th. Weiss Ratings restated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, January 21st. Finally, Zacks Research raised ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 25th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ARS Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $29.33.

ARS Pharmaceuticals Trading Up 6.8%

The company has a market capitalization of $838.09 million, a P/E ratio of -4.82 and a beta of 0.78. The company has a 50-day simple moving average of $9.37 and a 200 day simple moving average of $9.76. The company has a debt-to-equity ratio of 1.47, a quick ratio of 7.06 and a current ratio of 7.28.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings data on Monday, March 9th. The company reported ($0.42) earnings per share for the quarter, meeting the consensus estimate of ($0.42). The company had revenue of $28.09 million during the quarter, compared to analysts’ expectations of $25.58 million. ARS Pharmaceuticals had a negative return on equity of 100.29% and a negative net margin of 203.25%. Sell-side analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its stake in shares of ARS Pharmaceuticals by 243.7% in the third quarter. CWM LLC now owns 2,547 shares of the company’s stock valued at $26,000 after buying an additional 1,806 shares during the period. Torren Management LLC bought a new position in ARS Pharmaceuticals during the fourth quarter valued at about $32,000. Mirae Asset Global Investments Co. Ltd. increased its stake in ARS Pharmaceuticals by 25.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company’s stock valued at $56,000 after acquiring an additional 982 shares during the period. Osterweis Capital Management Inc. acquired a new position in ARS Pharmaceuticals in the 4th quarter valued at approximately $65,000. Finally, Russell Investments Group Ltd. raised its holdings in ARS Pharmaceuticals by 197.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,668 shares of the company’s stock valued at $67,000 after acquiring an additional 4,427 shares in the last quarter. Institutional investors own 68.16% of the company’s stock.

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.