ARS Pharmaceuticals (NASDAQ:SPRY) Shares Up 5.6% – Here’s Why

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) shares were up 5.6% during mid-day trading on Monday . The company traded as high as $5.90 and last traded at $5.9650. 352,616 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 1,746,268 shares. The stock had previously closed at $5.65.

Analyst Ratings Changes

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

ARS Pharmaceuticals Trading Up 4.5%

The company has a debt-to-equity ratio of 13.72, a current ratio of 3.48 and a quick ratio of 3.28. The firm’s fifty day moving average is $7.58 and its two-hundred day moving average is $8.29. The firm has a market capitalization of $586.37 million, a PE ratio of -2.71 and a beta of 0.98.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its earnings results on Thursday, August 13th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.15). ARS Pharmaceuticals had a negative return on equity of 256.67% and a negative net margin of 184.24%.The firm had revenue of $33.66 million for the quarter, compared to the consensus estimate of $31.32 million. On average, equities analysts predict that ARS Pharmaceuticals, Inc. will post -1.95 EPS for the current fiscal year.

Insider Buying and Selling at ARS Pharmaceuticals

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

Institutional Trading of ARS Pharmaceuticals

Several hedge funds have recently made changes to their positions in SPRY. Torren Management LLC bought a new position in shares of ARS Pharmaceuticals during the 4th quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 purchasing an additional 982 shares during the last quarter. Osaic Holdings Inc. boosted its position in ARS Pharmaceuticals by 52.8% during the second quarter. Osaic Holdings Inc. now owns 5,215 shares of the company’s stock worth $91,000 after purchasing an additional 1,803 shares during the period. Osterweis Capital Management Inc. bought a new position in ARS Pharmaceuticals during the fourth quarter worth about $65,000. Finally, BNP Paribas Financial Markets increased its stake in shares of ARS Pharmaceuticals by 58.3% in the second quarter. BNP Paribas Financial Markets now owns 6,097 shares of the company’s stock worth $106,000 after purchasing an additional 2,245 shares in the last quarter. 68.16% of the stock is currently owned by institutional investors.

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.