ARS Pharmaceuticals (NASDAQ:SPRY) Downgraded by Raymond James Financial to "Outperform"

Key Points

• Raymond James downgraded ARS Pharmaceuticals from “Strong Buy” to “Outperform.” Analysts overall maintain a “Moderate Buy” consensus rating, with an average price target of $23.33.
• ARS shares fell 13.1% and opened at $2.65, close to their 52-week low of $2.59.
• The company reported a quarterly loss of $0.36 per share, missing estimates of a $0.30 loss; revenue of $37.71 million also came in below expectations of $41.99 million.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) was downgraded by research analysts at Raymond James Financial from a "strong-buy" rating to an "outperform" rating in a note issued to investors on Friday, MarketBeat Ratings reports.

Several other research analysts also recently weighed in on SPRY. Weiss Ratings downgraded shares of ARS Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, August 17th. Leerink Partners set a $15.00 price target on shares of ARS Pharmaceuticals in a report on Tuesday, September 8th. 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 data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $23.33.

ARS Pharmaceuticals Stock Down 13.1%

NASDAQ SPRY opened at $2.65 on Friday. The stock has a market cap of $263.53 million, a PE ratio of -1.22 and a beta of 0.98. ARS Pharmaceuticals has a fifty-two week low of $2.59 and a fifty-two week high of $13.15. The business has a 50 day moving average price of $4.36 and a two-hundred day moving average price of $7.26. The company has a quick ratio of 3.28, a current ratio of 3.48 and a debt-to-equity ratio of 13.72.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.06). The firm had revenue of $37.71 million during the quarter, compared to analyst estimates of $41.99 million. ARS Pharmaceuticals had a negative net margin of 184.24% and a negative return on equity of 256.67%. As a group, sell-side analysts predict that ARS Pharmaceuticals will post -1.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. StoneX Group Inc. purchased a new position in shares of ARS Pharmaceuticals during the 3rd quarter valued at approximately $44,000. CenterBook Partners LP grew its position in shares of ARS Pharmaceuticals by 239.1% during the third quarter. CenterBook Partners LP now owns 419,156 shares of the company's stock worth $1,807,000 after buying an additional 295,532 shares in the last quarter. Inscription Capital LLC acquired a new stake in shares of ARS Pharmaceuticals during the third quarter worth approximately $56,000. USAdvisors Wealth Management LLC bought a new stake in shares of ARS Pharmaceuticals in the third quarter worth $43,000. Finally, WINTON GROUP Ltd bought a new stake in shares of ARS Pharmaceuticals in the second quarter worth $264,000. Institutional investors and hedge funds own 68.16% of the company's stock.

About ARS Pharmaceuticals

ARS Pharmaceuticals, Inc NASDAQ: SPRY is a biopharmaceutical company focused on developing and commercializing treatments for severe allergic reactions. The company's lead product is neffy (epinephrine nasal spray), a needle-free alternative to injectable epinephrine designed for the emergency treatment of allergic reactions, including anaphylaxis.

Neffy was approved by the U.S. Food and Drug Administration in 2024 for adults and pediatric patients who weigh at least 30 kilograms. The product is intended to provide rapid, convenient administration without requiring a syringe or injector, which may help address barriers associated with the use of traditional epinephrine auto-injectors.

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