ARS Pharmaceuticals (NASDAQ:SPRY) Sets New 52-Week Low – Time to Sell?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) shares reached a new 52-week low during trading on Monday . The company traded as low as $6.61 and last traded at $6.5750, with a volume of 324921 shares traded. The stock had previously closed at $7.00.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Northland Securities initiated coverage on ARS Pharmaceuticals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $25.00 price target on the stock. Leerink Partners dropped their price objective on ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday, June 25th. Wall Street Zen raised ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Cantor Fitzgerald boosted their target price on ARS Pharmaceuticals from $12.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Finally, Weiss Ratings raised ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $28.20.

ARS Pharmaceuticals Trading Down 4.2%

The company has a market capitalization of $665.81 million, a P/E ratio of -3.34 and a beta of 0.95. The company has a debt-to-equity ratio of 2.79, a current ratio of 4.94 and a quick ratio of 4.77. The business’s 50-day moving average price is $8.59 and its two-hundred day moving average price is $9.04.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.08). The firm had revenue of $22.68 million during the quarter, compared to the consensus estimate of $22.20 million. ARS Pharmaceuticals had a negative net margin of 200.00% and a negative return on equity of 153.61%. As a group, analysts forecast that ARS Pharmaceuticals, Inc. will post -1.95 EPS for the current fiscal year.

Insider Transactions at ARS Pharmaceuticals

In related news, 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 completion of the transaction, the insider directly owned 90,910 shares in the company, valued at approximately $909,100. The trade was a 3.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Karas sold 25,000 shares of the 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 $250,000.00. Following the sale, the insider directly owned 12,176 shares of the company’s stock, valued at approximately $121,760. The trade was a 67.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 33.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Torren Management LLC bought a new stake in shares of ARS Pharmaceuticals during the fourth quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. lifted its position in 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 valued at $56,000 after acquiring an additional 982 shares in the last quarter. Bessemer Group Inc. boosted its stake in ARS Pharmaceuticals by 3,102.1% in the 1st 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 period. Osterweis Capital Management Inc. acquired a new position in ARS Pharmaceuticals in the 4th quarter worth $65,000. Finally, Russell Investments Group Ltd. increased its holdings in ARS Pharmaceuticals by 197.5% during the 3rd 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 own 68.16% of the company’s stock.

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.