ARS Pharmaceuticals (NASDAQ:SPRY) Shares Up 3.4% – What’s Next?

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) were up 3.4% during trading on Monday . The company traded as high as $11.75 and last traded at $11.7690. Approximately 379,922 shares traded 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 brokerages recently issued reports on SPRY. Raymond James Financial set a $32.00 target price on ARS Pharmaceuticals in a research report on Friday, September 26th. Roth Capital began coverage on shares of ARS Pharmaceuticals in a research note on Tuesday, November 4th. They set a “buy” rating and a $30.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, October 8th. Finally, Zacks Research upgraded ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.80.

ARS Pharmaceuticals Trading Up 2.2%

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

ARS Pharmaceuticals (NASDAQ:SPRY) last released its earnings results on Monday, November 10th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.07). The firm had revenue of $32.50 million during the quarter, compared to the consensus estimate of $28.87 million. ARS Pharmaceuticals had a negative net margin of 56.06% and a negative return on equity of 38.77%. As a group, equities research analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Insider Activity at ARS Pharmaceuticals

In other news, COO Brian Dorsey sold 21,828 shares of the company’s stock in a transaction dated 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 directly owned 10,789 shares of the company’s stock, valued at approximately $93,972.19. This represents a 66.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Justin Chakma sold 166,380 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $8.87, for a total value of $1,475,790.60. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 33.50% of the company’s stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of SPRY. Rubric Capital Management LP boosted its position in shares of ARS Pharmaceuticals by 247.5% during the third quarter. Rubric Capital Management LP now owns 4,500,000 shares of the company’s stock valued at $45,225,000 after purchasing an additional 3,205,122 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of ARS Pharmaceuticals in the 2nd quarter worth about $30,154,000. Casdin Capital LLC purchased a new position in ARS Pharmaceuticals during the 3rd quarter valued at about $16,080,000. Aberdeen Group plc grew its holdings in ARS Pharmaceuticals by 106.1% in the third quarter. Aberdeen Group plc now owns 3,097,022 shares of the company’s stock worth $31,125,000 after purchasing an additional 1,594,447 shares during the period. Finally, MPM Bioimpact LLC bought a new position in shares of ARS Pharmaceuticals during the first quarter valued at approximately $16,519,000. 68.16% of the stock is owned by hedge funds and other 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.