ARS Pharmaceuticals (NASDAQ:SPRY) Trading 8.3% Higher – Still a Buy?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s share price traded up 8.3% on Monday . The stock traded as high as $10.45 and last traded at $10.4550. 399,196 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 1,546,506 shares. The stock had previously closed at $9.65.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings upgraded ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Cantor Fitzgerald upped their target price on shares of ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Leerink Partners set a $26.00 target price on shares of ARS Pharmaceuticals and gave the stock an “outperform” rating in a research note on Tuesday, March 10th. Wall Street Zen upgraded shares of ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Northland Securities assumed coverage on shares of ARS Pharmaceuticals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $25.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $28.60.

ARS Pharmaceuticals Trading Up 7.3%

The company has a current ratio of 4.94, a quick ratio of 4.77 and a debt-to-equity ratio of 2.79. The company has a market cap of $1.03 billion, a PE ratio of -5.16 and a beta of 0.94. The company has a fifty day simple moving average of $8.57 and a two-hundred day simple moving average of $9.35.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.08). The firm had revenue of $22.68 million for the quarter, compared to analysts’ expectations of $22.20 million. ARS Pharmaceuticals had a negative return on equity of 153.61% and a negative net margin of 200.00%. Analysts anticipate that ARS Pharmaceuticals, Inc. will post -1.89 EPS for the current year.

Insider Activity

In other news, insider Eric Karas sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $10.00, for a total transaction of $250,000.00. Following the sale, the insider owned 12,176 shares of the company’s stock, valued at approximately $121,760. This trade represents a 67.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander A. Fitzpatrick sold 3,355 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $10.00, for a total value of $33,550.00. Following the sale, the insider owned 90,910 shares of the company’s stock, valued at approximately $909,100. The trade was a 3.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 33.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Torren Management LLC acquired a new stake in ARS Pharmaceuticals during the 4th quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in ARS Pharmaceuticals by 25.7% in 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 in the last quarter. Bessemer Group Inc. grew its holdings in shares of ARS Pharmaceuticals by 3,102.1% during the first quarter. Bessemer Group Inc. now owns 7,525 shares of the company’s stock worth $61,000 after purchasing an additional 7,290 shares during the last quarter. Osterweis Capital Management Inc. purchased a new position in shares of ARS Pharmaceuticals during the fourth quarter worth about $65,000. Finally, Russell Investments Group Ltd. increased its position in shares of ARS Pharmaceuticals by 197.5% during the third quarter. Russell Investments Group Ltd. now owns 6,668 shares of the company’s stock worth $67,000 after purchasing an additional 4,427 shares in the last quarter. Institutional investors and hedge funds 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.