Wall Street Zen Downgrades ARS Pharmaceuticals (NASDAQ:SPRY) to Sell

Wall Street Zen cut shares of ARS Pharmaceuticals (NASDAQ:SPRY - Free Report) from a hold rating to a sell rating in a research report report published on Thursday.

A number of other equities research analysts have also weighed in on SPRY. Scotiabank initiated coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They set a "sector outperform" rating and a $30.00 price target on the stock. Oppenheimer initiated coverage on ARS Pharmaceuticals in a research note on Monday, February 10th. They set an "outperform" rating and a $40.00 price target on the stock. Finally, William Blair restated an "outperform" rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $31.00.

ARS Pharmaceuticals Stock Performance

SPRY traded up $0.46 on Thursday, hitting $14.98. The company had a trading volume of 2,307,209 shares, compared to its average volume of 1,257,728. The stock has a fifty day moving average price of $13.61 and a 200-day moving average price of $12.85. ARS Pharmaceuticals has a 12-month low of $7.55 and a 12-month high of $18.51. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -29.37 and a beta of 0.84.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.35). The business had revenue of $7.97 million for the quarter, compared to analysts' expectations of $7.48 million. Analysts forecast that ARS Pharmaceuticals will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling

In other ARS Pharmaceuticals news, CFO Kathleen D. Scott sold 50,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $14.10, for a total transaction of $705,000.00. Following the completion of the sale, the chief financial officer now directly owns 7,424 shares in the company, valued at approximately $104,678.40. The trade was a 87.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Brent L. Saunders sold 120,000 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $14.25, for a total transaction of $1,710,000.00. The disclosure for this sale can be found here. Insiders sold 382,571 shares of company stock valued at $5,177,904 over the last quarter. 33.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bernard Wealth Management Corp. acquired a new position in shares of ARS Pharmaceuticals in the 4th quarter valued at about $27,000. ANTIPODES PARTNERS Ltd acquired a new stake in ARS Pharmaceuticals during the first quarter worth about $37,000. GAMMA Investing LLC grew its holdings in ARS Pharmaceuticals by 4,319.7% during the first quarter. GAMMA Investing LLC now owns 3,359 shares of the company's stock worth $420,000 after acquiring an additional 3,283 shares during the period. PNC Financial Services Group Inc. lifted its holdings in ARS Pharmaceuticals by 78,100.0% in the first quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company's stock valued at $49,000 after acquiring an additional 3,905 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in ARS Pharmaceuticals in the fourth quarter valued at approximately $73,000. 68.16% of the stock is owned by institutional investors and hedge funds.

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.