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

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

Other equities analysts have also issued research reports about the stock. William Blair reiterated an "outperform" rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Scotiabank started coverage on shares of ARS Pharmaceuticals in a research report on Friday, March 7th. They set a "sector outperform" rating and a $30.00 price objective for the company. One research 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 presently has an average rating of "Buy" and an average target price of $31.00.

ARS Pharmaceuticals Price Performance

SPRY traded up $0.12 on Friday, reaching $18.20. The company had a trading volume of 3,883,996 shares, compared to its average volume of 1,324,436. The company has a fifty day moving average of $14.63 and a 200-day moving average of $13.03. The company has a market capitalization of $1.79 billion, a P/E ratio of -113.74 and a beta of 0.84. The company has a current ratio of 11.00, a quick ratio of 10.74 and a debt-to-equity ratio of 0.30. ARS Pharmaceuticals has a one year low of $8.35 and a one year high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.35). The firm had revenue of $7.97 million during the quarter, compared to analyst estimates 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, equities research analysts anticipate that ARS Pharmaceuticals will post -0.55 earnings per share for the current year.

Insider Activity

In other ARS Pharmaceuticals news, insider Alexander A. Fitzpatrick sold 102,969 shares of the firm'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 $1,451,862.90. Following the completion of the transaction, the insider now directly owns 89,613 shares in the company, valued at $1,263,543.30. This trade represents a 53.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Eric Karas sold 15,000 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $16.00, for a total transaction of $240,000.00. Following the completion of the transaction, the insider now owns 7,696 shares of the company's stock, valued at approximately $123,136. The trade was a 66.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 337,971 shares of company stock worth $4,721,888. Corporate insiders own 33.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SPRY. Alliancebernstein L.P. boosted its holdings in shares of ARS Pharmaceuticals by 5,168.4% in the fourth quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company's stock worth $40,942,000 after buying an additional 3,807,074 shares during the period. MPM Bioimpact LLC purchased a new stake in shares of ARS Pharmaceuticals in the first quarter worth approximately $16,519,000. Alyeska Investment Group L.P. lifted its position in shares of 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 purchasing an additional 1,128,724 shares in the last quarter. Cormorant Asset Management LP lifted its position in shares of ARS Pharmaceuticals by 220.0% in the first quarter. Cormorant Asset Management LP now owns 1,600,000 shares of the company's stock worth $20,128,000 after purchasing an additional 1,100,000 shares in the last quarter. Finally, Aberdeen Group plc purchased a new stake in shares of ARS Pharmaceuticals in the first quarter worth approximately $12,613,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

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.