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 traded 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.

Wall Street Analysts Forecast Growth

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

ARS Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 11.00 and a quick ratio of 10.74. The firm has a fifty day moving average price of $15.13 and a two-hundred day moving average price of $13.35. The stock has a market capitalization of $1.77 billion, a PE ratio of -112.37 and a beta of 0.90.

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

Insider Activity at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, CFO Kathleen D. Scott sold 50,000 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $14.10, for a total transaction of $705,000.00. Following the transaction, the chief financial officer directly owned 7,424 shares in the company, valued at $104,678.40. This trade represents a 87.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexander A. Fitzpatrick sold 102,969 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $14.10, for a total value of $1,451,862.90. Following the transaction, the insider owned 89,613 shares in the company, valued at $1,263,543.30. The trade was a 53.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,043,118 shares of company stock worth $18,024,863 over the last three months. Corporate insiders own 33.50% of the company's stock.

Institutional Trading of ARS Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of SPRY. Bernard Wealth Management Corp. bought a new stake in ARS Pharmaceuticals during the 4th quarter valued at $27,000. ANTIPODES PARTNERS Ltd bought a new stake in ARS Pharmaceuticals during the 1st quarter valued at $37,000. PNC Financial Services Group Inc. boosted its position in ARS Pharmaceuticals by 78,100.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company's stock valued at $49,000 after acquiring an additional 3,905 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in ARS Pharmaceuticals during the 4th quarter valued at $73,000. Finally, BNP Paribas Financial Markets bought a new stake in ARS Pharmaceuticals during the 4th quarter valued at $75,000. 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.