Janney Montgomery Scott LLC Buys 728,632 Shares of ARS Pharmaceuticals, Inc. $SPRY

Janney Montgomery Scott LLC boosted its position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 56.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,016,464 shares of the company’s stock after buying an additional 728,632 shares during the quarter. Janney Montgomery Scott LLC’s holdings in ARS Pharmaceuticals were worth $16,192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPRY. Rubric Capital Management LP lifted its holdings in ARS Pharmaceuticals by 247.5% during the 3rd 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 during the last quarter. Millennium Management LLC acquired a new position in shares of ARS Pharmaceuticals in the fourth quarter valued at $36,912,000. Adage Capital Partners GP L.L.C. bought a new position in shares of ARS Pharmaceuticals in the second quarter valued at about $30,154,000. Casdin Capital LLC bought a new position in shares of ARS Pharmaceuticals in the third quarter valued at about $16,080,000. Finally, UBS Group AG lifted its stake in shares of ARS Pharmaceuticals by 235.0% during the 4th quarter. UBS Group AG now owns 2,210,866 shares of the company’s stock worth $25,757,000 after buying an additional 1,550,980 shares during the last quarter. Institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Stock Performance

Shares of ARS Pharmaceuticals stock opened at $8.01 on Wednesday. The company has a current ratio of 4.94, a quick ratio of 4.77 and a debt-to-equity ratio of 2.79. The company has a market cap of $795.39 million, a PE ratio of -3.99 and a beta of 0.94. The company has a 50 day moving average of $8.71 and a 200-day moving average of $9.31. ARS Pharmaceuticals, Inc. has a 1-year low of $6.66 and a 1-year high of $18.63.

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 analysts’ consensus estimates of ($0.53) by ($0.08). The business 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, equities research analysts forecast that ARS Pharmaceuticals, Inc. will post -1.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, insider Alexander A. Fitzpatrick sold 3,355 shares of ARS Pharmaceuticals 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 transaction, the insider directly owned 90,910 shares of the company’s stock, valued at $909,100. The trade was a 3.56% 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 Eric Karas sold 25,000 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 transaction of $250,000.00. Following the completion of the transaction, the insider owned 12,176 shares in the company, valued at $121,760. This trade represents a 67.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 33.80% of the stock is owned by company insiders.

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.