ARS Pharmaceuticals (NASDAQ:SPRY) Shares Up 4.9% - Still a Buy?

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) shot up 4.9% on Friday . The company traded as high as $14.99 and last traded at $15.10. 296,156 shares traded hands during trading, a decline of 77% from the average session volume of 1,283,612 shares. The stock had previously closed at $14.40.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SPRY. Wall Street Zen lowered ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. William Blair reiterated an "outperform" rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Finally, Scotiabank assumed coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They set a "sector outperform" rating and a $30.00 target price on the stock. One investment 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

ARS Pharmaceuticals Trading Up 5.5%

The company's 50-day moving average is $14.09 and its 200 day moving average is $12.84. The stock has a market capitalization of $1.49 billion, a PE ratio of -29.67 and a beta of 0.84.

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

Insider Transactions at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, Director Brent L. Saunders sold 120,000 shares of ARS Pharmaceuticals stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $14.25, for a total value of $1,710,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Alexander A. Fitzpatrick sold 102,969 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $14.10, for a total transaction of $1,451,862.90. Following the transaction, the insider now owns 89,613 shares in the company, valued at approximately $1,263,543.30. This trade represents a 53.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 332,971 shares of company stock valued at $4,621,888. Insiders own 33.50% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SPRY. Bernard Wealth Management Corp. acquired a new position in shares of ARS Pharmaceuticals during the fourth quarter valued at approximately $27,000. ANTIPODES PARTNERS Ltd acquired a new position in ARS Pharmaceuticals in the first quarter worth approximately $37,000. PNC Financial Services Group Inc. grew its position 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 worth $49,000 after buying an additional 3,905 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in ARS Pharmaceuticals in the fourth quarter worth approximately $73,000. Finally, BNP Paribas Financial Markets acquired a new position in ARS Pharmaceuticals in the fourth quarter worth approximately $75,000. 68.16% of the stock is currently owned by institutional investors.

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.

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