ARS Pharmaceuticals (NASDAQ:SPRY) Sets New 12-Month High - Still a Buy?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $18.86 and last traded at $18.76, with a volume of 588826 shares traded. The stock had previously closed at $18.08.

Wall Street Analyst Weigh In

SPRY has been the subject of a number of analyst reports. Scotiabank began coverage on shares of ARS Pharmaceuticals in a research note on Friday, March 7th. They set a "sector outperform" rating and a $30.00 price objective for the company. Wall Street Zen downgraded shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, William Blair reaffirmed an "outperform" rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, ARS Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

ARS Pharmaceuticals Trading Up 3.0%

The company has a quick ratio of 10.74, a current ratio of 11.00 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1.83 billion, a PE ratio of -116.30 and a beta of 0.84. The stock's 50 day moving average is $14.56 and its two-hundred day moving average is $12.99.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.35). The firm had revenue of $7.97 million for the quarter, compared to the consensus estimate of $7.48 million. ARS Pharmaceuticals had a negative net margin of 16.11% and a negative return on equity of 6.94%. As a group, sell-side analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current fiscal year.

Insider Activity

In related news, Director Laura Shawver sold 50,002 shares of ARS Pharmaceuticals stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $12.30, for a total value of $615,024.60. Following the completion of the sale, the director now directly owns 210,346 shares in the company, valued at $2,587,255.80. This trade represents a 19.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brent L. Saunders sold 120,000 shares of ARS Pharmaceuticals 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. In the last ninety days, insiders have sold 337,971 shares of company stock worth $4,721,888. Corporate insiders own 33.50% of the company's stock.

Institutional Trading of ARS Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new stake in shares of ARS Pharmaceuticals during the fourth quarter worth about $27,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of ARS Pharmaceuticals in the 1st quarter valued at $37,000. GAMMA Investing LLC increased its stake in shares of ARS Pharmaceuticals by 4,319.7% in 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. increased its stake in shares of 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 worth $49,000 after acquiring an additional 3,905 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of ARS Pharmaceuticals during the fourth quarter worth $73,000. Hedge funds and other institutional investors own 68.16% of the company's stock.

About ARS Pharmaceuticals

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.