ARS Pharmaceuticals (NASDAQ:SPRY) Reaches New 12-Month Low - Should You Sell?

Key Points

• ARS Pharmaceuticals reached a new 52-week low of $9.97 amidst trading volumes of over 5 million shares, reflecting a decrease in investor confidence.
• Recent analyst ratings reveal mixed sentiments, with Roth Capital giving a "buy" rating and a target price of $40, while Wall Street Zen downgraded the stock to a "sell" rating.
• The company's quarterly earnings showed a loss per share of ($0.46), missing expectations, yet revenue of $15.72 million surpassed the consensus estimate, indicating potential growth despite financial struggles.

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Saturday . The company traded as low as $9.97 and last traded at $10.07, with a volume of 5198565 shares changing hands. The stock had previously closed at $10.69.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SPRY. Roth Capital began coverage on ARS Pharmaceuticals in a report on Thursday, September 4th. They set a "buy" rating and a $40.00 target price on the stock. Wall Street Zen lowered ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $32.50.

ARS Pharmaceuticals Price Performance

The business has a fifty day moving average of $15.40 and a 200 day moving average of $14.32. The firm has a market cap of $1.00 billion, a P/E ratio of -20.71 and a beta of 0.87. The company has a quick ratio of 5.98, a current ratio of 6.17 and a debt-to-equity ratio of 0.37.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.05). ARS Pharmaceuticals had a negative net margin of 42.74% and a negative return on equity of 21.85%. The business had revenue of $15.72 million during the quarter, compared to the consensus estimate of $12.92 million. On average, sell-side analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Eric Karas sold 15,000 shares of ARS Pharmaceuticals stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $16.99, for a total transaction of $254,850.00. Following the completion of the transaction, the insider directly owned 10,315 shares of the company's stock, valued at $175,251.85. The trade was a 59.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder James E. Flynn sold 740,149 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $18.46, for a total transaction of $13,663,150.54. Following the completion of the transaction, the insider directly owned 4,887,254 shares in the company, valued at $90,218,708.84. The trade was a 13.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 882,649 shares of company stock worth $15,773,760. 33.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Bernard Wealth Management Corp. bought a new stake in shares of ARS Pharmaceuticals during the fourth quarter worth approximately $27,000. ANTIPODES PARTNERS Ltd acquired a new stake in ARS Pharmaceuticals during the 1st quarter worth approximately $37,000. GAMMA Investing LLC boosted its stake in ARS Pharmaceuticals by 4,319.7% in the 1st quarter. GAMMA Investing LLC now owns 3,359 shares of the company's stock valued at $420,000 after purchasing an additional 3,283 shares during the period. PNC Financial Services Group Inc. grew its holdings in ARS Pharmaceuticals by 78,100.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company's stock valued at $49,000 after buying an additional 3,905 shares in the last quarter. Finally, Osaic Holdings Inc. increased its position in ARS Pharmaceuticals by 52.8% during the 2nd quarter. Osaic Holdings Inc. now owns 5,215 shares of the company's stock worth $91,000 after buying an additional 1,803 shares during the period. 68.16% of the stock is currently 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.