ARS Pharmaceuticals (NASDAQ:SPRY) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of ARS Pharmaceuticals (NASDAQ:SPRY - Free Report) from a sell rating to a hold rating in a research note released on Saturday morning.

A number of other brokerages also recently weighed in on SPRY. William Blair reissued an "outperform" rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Scotiabank initiated coverage on shares of ARS Pharmaceuticals in a research report on Friday, March 7th. They set a "sector outperform" rating and a $30.00 target price for the company. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ARS Pharmaceuticals currently has a consensus rating of "Buy" and an average target price of $31.00.

ARS Pharmaceuticals Price Performance

SPRY stock traded down $1.36 during trading hours on Friday, hitting $16.09. 1,864,337 shares of the stock traded hands, compared to its average volume of 1,336,713. ARS Pharmaceuticals has a one year low of $8.65 and a one year high of $18.90. The company has a current ratio of 11.00, a quick ratio of 10.74 and a debt-to-equity ratio of 0.30. The stock has a 50-day simple moving average of $14.71 and a 200 day simple moving average of $13.09. The company has a market cap of $1.58 billion, a P/E ratio of -100.56 and a beta of 0.90.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.35). ARS Pharmaceuticals had a negative return on equity of 6.94% and a negative net margin of 16.11%. The business had revenue of $7.97 million for the quarter, compared to the consensus estimate of $7.48 million. Equities analysts forecast that ARS Pharmaceuticals will post -0.55 earnings per share for the current year.

Insider Activity

In related news, Director Brent L. Saunders sold 120,000 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $14.25, for a total transaction of $1,710,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Karas sold 15,000 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $16.00, for a total value of $240,000.00. Following the transaction, the insider directly owned 7,696 shares of the company's stock, valued at approximately $123,136. This trade represents a 66.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,078,120 shares of company stock valued at $18,385,038. Company insiders own 33.50% of the company's stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of ARS Pharmaceuticals by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 163,252 shares of the company's stock valued at $1,722,000 after purchasing an additional 917 shares in the last quarter. Rhumbline Advisers raised its holdings in ARS Pharmaceuticals by 2.9% in the fourth quarter. Rhumbline Advisers now owns 65,163 shares of the company's stock worth $687,000 after purchasing an additional 1,824 shares in the last quarter. Mariner LLC lifted its position in ARS Pharmaceuticals by 5.8% during the 4th quarter. Mariner LLC now owns 35,908 shares of the company's stock valued at $379,000 after acquiring an additional 1,972 shares during the period. Bank of New York Mellon Corp boosted its holdings in ARS Pharmaceuticals by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 132,213 shares of the company's stock worth $1,663,000 after acquiring an additional 1,975 shares in the last quarter. Finally, LPL Financial LLC grew its position in ARS Pharmaceuticals by 11.4% during the 4th quarter. LPL Financial LLC now owns 21,408 shares of the company's stock valued at $226,000 after purchasing an additional 2,190 shares during the last quarter. 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.