ARS Pharmaceuticals (NASDAQ:SPRY) Stock Price Up 4.6% - Should You Buy?

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) were up 4.6% during mid-day trading on Monday . The company traded as high as $17.41 and last traded at $17.27. Approximately 244,025 shares changed hands during trading, a decline of 84% from the average daily volume of 1,543,815 shares. The stock had previously closed at $16.52.

Analyst Ratings Changes

Separately, Wall Street Zen raised ARS Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, June 28th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $31.00.

ARS Pharmaceuticals Trading Up 7.8%

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 firm has a market cap of $1.75 billion, a P/E ratio of -110.90 and a beta of 0.90. The firm's 50-day simple moving average is $14.85 and its 200 day simple moving average is $13.21.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.35). The company had revenue of $7.97 million during 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, analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

Insider Buying and Selling at ARS Pharmaceuticals

In related news, insider Alexander A. Fitzpatrick sold 102,969 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $14.10, for a total transaction of $1,451,862.90. Following the completion of the sale, the insider directly owned 89,613 shares in the company, valued at approximately $1,263,543.30. The trade was a 53.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kathleen D. Scott sold 50,000 shares of the business'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 sale, the chief financial officer directly owned 7,424 shares of the company's stock, valued at $104,678.40. This represents a 87.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,043,118 shares of company stock valued at $18,024,863 in the last ninety days. Corporate insiders own 33.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Alliancebernstein L.P. raised its stake in ARS Pharmaceuticals by 5,168.4% during the fourth quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company's stock valued at $40,942,000 after purchasing an additional 3,807,074 shares in the last quarter. MPM Bioimpact LLC bought a new position in shares of ARS Pharmaceuticals in the 1st quarter valued at about $16,519,000. Alyeska Investment Group L.P. grew its position in ARS Pharmaceuticals by 903.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company's stock worth $13,227,000 after acquiring an additional 1,128,724 shares in the last quarter. Cormorant Asset Management LP increased its stake in ARS Pharmaceuticals by 220.0% during the first quarter. Cormorant Asset Management LP now owns 1,600,000 shares of the company's stock worth $20,128,000 after acquiring an additional 1,100,000 shares during the last quarter. Finally, Aberdeen Group plc bought a new stake in ARS Pharmaceuticals during the first quarter worth approximately $12,613,000. 68.16% of the stock is owned by hedge funds and other 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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