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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $4.91 and last traded at $5.2630, with a volume of 375938 shares. The stock had previously closed at $5.13.

Analyst Upgrades and Downgrades

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

ARS Pharmaceuticals Stock Down 2.6%

The company has a 50-day moving average price of $8.08 and a 200 day moving average price of $8.56. The firm has a market capitalization of $528.28 million, a PE ratio of -2.65 and a beta of 0.98. The company has a debt-to-equity ratio of 2.79, a current ratio of 4.94 and a quick ratio of 4.77.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its earnings results 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 business 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 forecast that ARS Pharmaceuticals, Inc. will post -1.95 earnings per share for the current year.

Insider Activity at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Eric Karas sold 25,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $10.00, for a total transaction of $250,000.00. Following the completion of the sale, the insider directly owned 12,176 shares of the company’s stock, valued at $121,760. This trade represents a 67.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 ARS Pharmaceuticals stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $10.00, for a total transaction of $33,550.00. Following the sale, the insider owned 90,910 shares in the company, valued at approximately $909,100. The trade was a 3.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 33.80% of the company’s stock.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several institutional investors have recently bought and sold shares of SPRY. Investment Management Associates Inc. ADV purchased a new position in shares of ARS Pharmaceuticals during the fourth quarter valued at about $3,629,000. Creek Drive Management Group LLC purchased a new stake in shares of ARS Pharmaceuticals in the fourth quarter worth about $3,447,000. UBS Group AG boosted its stake in ARS Pharmaceuticals by 235.0% during the fourth quarter. UBS Group AG now owns 2,210,866 shares of the company’s stock valued at $25,757,000 after buying an additional 1,550,980 shares during the last quarter. Rubric Capital Management LP increased its stake in ARS Pharmaceuticals by 29.0% in the 1st quarter. Rubric Capital Management LP now owns 8,000,000 shares of the company’s stock worth $64,240,000 after acquiring an additional 1,800,000 shares during the last quarter. Finally, General American Investors Co. Inc. raised its holdings in shares of ARS Pharmaceuticals by 29.9% during the 1st quarter. General American Investors Co. Inc. now owns 727,154 shares of the company’s stock worth $5,839,000 after acquiring an additional 167,195 shares in the last quarter. 68.16% of the stock is owned by hedge funds and other institutional investors.

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.