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

ARS Pharmaceuticals logo with Medical background

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.

Read Our Latest Stock Analysis on ARS Pharmaceuticals

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

(Get Free Report)

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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