ARS Pharmaceuticals (NASDAQ:SPRY) Shares Up 3.4% – Time to Buy?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) rose 3.4% during mid-day trading on Monday . The company traded as high as $11.75 and last traded at $11.7690. Approximately 379,922 shares changed hands during trading, a decline of 79% from the average daily volume of 1,849,565 shares. The stock had previously closed at $11.38.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, October 8th. Raymond James Financial set a $32.00 price objective on shares of ARS Pharmaceuticals in a research note on Friday, September 26th. Zacks Research raised ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 20th. Finally, Roth Capital began coverage on ARS Pharmaceuticals in a research note on Tuesday, November 4th. They issued a “buy” rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ARS Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $31.80.

ARS Pharmaceuticals Stock Performance

The stock’s 50 day moving average is $9.40 and its two-hundred day moving average is $12.44. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -14.38 and a beta of 0.82. The company has a current ratio of 6.66, a quick ratio of 6.51 and a debt-to-equity ratio of 1.14.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.07). ARS Pharmaceuticals had a negative return on equity of 38.77% and a negative net margin of 56.06%.The firm had revenue of $32.50 million for the quarter, compared to the consensus estimate of $28.87 million. Analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Insider Activity at ARS Pharmaceuticals

In related news, insider Justin Chakma sold 166,380 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $8.87, for a total value of $1,475,790.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brian Dorsey sold 21,828 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $8.71, for a total transaction of $190,121.88. Following the completion of the transaction, the chief operating officer owned 10,789 shares in the company, valued at approximately $93,972.19. This represents a 66.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 33.50% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in SPRY. Alliancebernstein L.P. raised its position in ARS Pharmaceuticals by 1.1% during the 1st quarter. Alliancebernstein L.P. now owns 3,922,805 shares of the company’s stock worth $49,349,000 after purchasing an additional 42,071 shares during the last quarter. Octagon Capital Advisors LP bought a new position in ARS Pharmaceuticals during the 1st quarter worth approximately $7,862,000. Trexquant Investment LP raised its stake in ARS Pharmaceuticals by 78.2% during the first quarter. Trexquant Investment LP now owns 100,769 shares of the company’s stock worth $1,268,000 after buying an additional 44,206 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its stake in shares of ARS Pharmaceuticals by 57.8% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 68,094 shares of the company’s stock valued at $1,188,000 after purchasing an additional 24,950 shares during the period. Finally, Harbour Capital Advisors LLC lifted its position in shares of ARS Pharmaceuticals by 102.3% during the 2nd quarter. Harbour Capital Advisors LLC now owns 57,950 shares of the company’s stock valued at $971,000 after acquiring an additional 29,300 shares during the period. 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.