ARS Pharmaceuticals (NASDAQ:SPRY) Sets New 52-Week Low - Time to Sell?

Key Points

• ARS Pharmaceuticals shares hit a new 52-week low, trading as low as $6.61 and falling about 4.2% amid weak recent performance.
• Despite the stock slump, Wall Street analysts remain largely positive: the consensus rating is Moderate Buy with an average price target of $28.20, though a few firms have trimmed or downgraded their views.
• The company recently reported a Q1 EPS miss at $(0.61) versus expected $(0.53), and insiders have also sold shares under pre-arranged trading plans, adding to investor caution.

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) shares reached a new 52-week low during trading on Monday . The company traded as low as $6.61 and last traded at $6.5750, with a volume of 324921 shares traded. The stock had previously closed at $7.00.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Northland Securities initiated coverage on ARS Pharmaceuticals in a research note on Thursday, April 9th. They issued an "outperform" rating and a $25.00 price target on the stock. Leerink Partners dropped their price objective on ARS Pharmaceuticals from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Thursday, June 25th. Wall Street Zen raised ARS Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 16th. Cantor Fitzgerald boosted their target price on ARS Pharmaceuticals from $12.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, May 28th. Finally, Weiss Ratings raised ARS Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, June 1st. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $28.20.

ARS Pharmaceuticals Trading Down 4.2%

The company has a market capitalization of $665.81 million, a P/E ratio of -3.34 and a beta of 0.95. The company has a debt-to-equity ratio of 2.79, a current ratio of 4.94 and a quick ratio of 4.77. The business's 50-day moving average price is $8.59 and its two-hundred day moving average price is $9.04.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.61) EPS for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.08). The firm had revenue of $22.68 million during the quarter, compared to the consensus estimate of $22.20 million. ARS Pharmaceuticals had a negative net margin of 200.00% and a negative return on equity of 153.61%. As a group, analysts forecast that ARS Pharmaceuticals, Inc. will post -1.95 EPS for the current fiscal year.

Insider Transactions at ARS Pharmaceuticals

In related news, insider Alexander A. Fitzpatrick sold 3,355 shares of the business's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $10.00, for a total value of $33,550.00. Following the completion of the transaction, the insider directly owned 90,910 shares in the company, valued at approximately $909,100. The trade was a 3.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Karas sold 25,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $10.00, for a total value of $250,000.00. Following the sale, the insider directly owned 12,176 shares of the company's stock, valued at approximately $121,760. The trade was a 67.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 33.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Torren Management LLC bought a new stake in shares of ARS Pharmaceuticals during the fourth quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. lifted its position in ARS Pharmaceuticals by 25.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company's stock valued at $56,000 after acquiring an additional 982 shares in the last quarter. Bessemer Group Inc. boosted its stake in ARS Pharmaceuticals by 3,102.1% in the 1st quarter. Bessemer Group Inc. now owns 7,525 shares of the company's stock worth $61,000 after purchasing an additional 7,290 shares during the period. Osterweis Capital Management Inc. acquired a new position in ARS Pharmaceuticals in the 4th quarter worth $65,000. Finally, Russell Investments Group Ltd. increased its holdings in ARS Pharmaceuticals by 197.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,668 shares of the company's stock worth $67,000 after purchasing an additional 4,427 shares in the last quarter. Institutional investors own 68.16% of the company's stock.

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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.