ARS Pharmaceuticals (NASDAQ:SPRY) Stock Rating Lowered by Wall Street Zen

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

Several other research analysts have also recently issued reports on SPRY. Scotiabank started coverage on ARS Pharmaceuticals in a research report on Friday, March 7th. They set a "sector outperform" rating and a $30.00 price objective for the company. Oppenheimer started coverage on ARS Pharmaceuticals in a research report on Monday, February 10th. They set an "outperform" rating and a $40.00 price objective for the company. Finally, William Blair reaffirmed an "outperform" rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, ARS Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $31.00.

ARS Pharmaceuticals Stock Down 1.1%

NASDAQ SPRY traded down $0.16 during trading hours on Thursday, hitting $14.82. 473,927 shares of the company were exchanged, compared to its average volume of 1,254,737. The company has a 50 day moving average of $13.67 and a two-hundred day moving average of $12.81. ARS Pharmaceuticals has a 52-week low of $7.55 and a 52-week high of $18.51. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of -28.95 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 the consensus estimate of ($0.35). The company had revenue of $7.97 million for the quarter, compared to analysts' expectations of $7.48 million. On average, equities research analysts predict that ARS Pharmaceuticals will post -0.55 EPS for the current year.

Insider Activity at ARS Pharmaceuticals

In related news, Director Laura Shawver sold 49,600 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $11.21, for a total value of $556,016.00. Following the completion of the sale, the director now directly owns 210,346 shares of the company's stock, valued at $2,357,978.66. This represents a 19.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kathleen D. Scott sold 50,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $14.10, for a total value of $705,000.00. Following the completion of the sale, the chief financial officer now directly owns 7,424 shares of the company's stock, valued at approximately $104,678.40. This trade represents a 87.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 382,571 shares of company stock valued at $5,177,904 in the last three months. 33.50% of the stock is currently owned by company insiders.

Institutional Trading of ARS Pharmaceuticals

Large investors have recently made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new stake in shares of ARS Pharmaceuticals in the 4th quarter valued at about $27,000. ANTIPODES PARTNERS Ltd purchased a new stake in ARS Pharmaceuticals during the 1st quarter valued at approximately $37,000. PNC Financial Services Group Inc. raised its stake in ARS Pharmaceuticals by 78,100.0% during the 1st 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 last quarter. KLP Kapitalforvaltning AS purchased a new stake in ARS Pharmaceuticals during the 4th quarter valued at approximately $73,000. Finally, BNP Paribas Financial Markets purchased a new stake in ARS Pharmaceuticals during the 4th quarter valued at approximately $75,000. 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.