ARS Pharmaceuticals (NASDAQ:SPRY) Posts Quarterly Earnings Results, Meets Expectations

ARS Pharmaceuticals (NASDAQ:SPRY) issued its quarterly earnings data on Monday. The company reported ($0.42) EPS for the quarter, hitting analysts’ consensus estimates of ($0.42), FiscalAI reports. The business had revenue of $28.09 million for the quarter, compared to analyst estimates of $25.58 million. ARS Pharmaceuticals had a negative net margin of 56.06% and a negative return on equity of 38.77%.

ARS Pharmaceuticals Price Performance

ARS Pharmaceuticals stock opened at $9.06 on Monday. The stock has a 50-day moving average price of $10.20 and a two-hundred day moving average price of $10.11. ARS Pharmaceuticals has a 12 month low of $6.66 and a 12 month high of $18.90. The company has a market capitalization of $895.58 million, a PE ratio of -11.19 and a beta of 0.78. The company has a current ratio of 6.66, a quick ratio of 6.51 and a debt-to-equity ratio of 1.14.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SPRY shares. Zacks Research upgraded ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 25th. Weiss Ratings restated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ARS Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $31.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in ARS Pharmaceuticals by 1,075.3% during the 1st quarter. Royal Bank of Canada now owns 18,547 shares of the company’s stock worth $234,000 after buying an additional 16,969 shares during the period. AQR Capital Management LLC bought a new position in shares of ARS Pharmaceuticals during the 1st quarter worth about $140,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of ARS Pharmaceuticals by 13.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 279,840 shares of the company’s stock valued at $3,520,000 after buying an additional 32,526 shares during the period. JPMorgan Chase & Co. raised its stake in ARS Pharmaceuticals by 7.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 34,560 shares of the company’s stock worth $603,000 after buying an additional 2,357 shares during the period. Finally, Legal & General Group Plc boosted its holdings in ARS Pharmaceuticals by 55.1% in the second quarter. Legal & General Group Plc now owns 54,825 shares of the company’s stock worth $957,000 after acquiring an additional 19,484 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.