ARS Pharmaceuticals' (SPRY) "Sell (D-)" Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "Sell (D-)" rating for ARS Pharmaceuticals (NASDAQ:SPRY), amidst mixed analyst opinions on the stock.
• ARS Pharmaceuticals shares rose 7.6% to $11.11 during trading, with a market cap of $1.10 billion and a reported quarterly loss of ($0.46) EPS.
• Insider selling was observed, with CFO Kathleen D. Scott offloading 12,500 shares for $187,500, leading to a significant reduction in her ownership stake.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report)'s stock had its "sell (d-)" rating restated by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other equities analysts have also issued reports about the stock. Wall Street Zen lowered shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Roth Capital started coverage on ARS Pharmaceuticals in a research report on Thursday, September 4th. They issued a "buy" rating and a $40.00 price target on the stock. Finally, Raymond James Financial set a $32.00 target price on ARS Pharmaceuticals in a research report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $33.80.

ARS Pharmaceuticals Stock Up 7.6%

Shares of SPRY traded up $0.78 during mid-day trading on Wednesday, hitting $11.11. 2,311,046 shares of the company's stock were exchanged, compared to its average volume of 1,825,578. The company has a market cap of $1.10 billion, a PE ratio of -22.67 and a beta of 0.84. ARS Pharmaceuticals has a 52 week low of $9.34 and a 52 week high of $18.90. The company has a 50-day simple moving average of $12.59 and a 200 day simple moving average of $14.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.17 and a quick ratio of 5.98.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.05). The company had revenue of $15.72 million during the quarter, compared to analyst estimates of $12.92 million. ARS Pharmaceuticals had a negative net margin of 42.74% and a negative return on equity of 21.85%. On average, research analysts forecast that ARS Pharmaceuticals will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Kathleen D. Scott sold 12,500 shares of ARS Pharmaceuticals stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $15.00, for a total value of $187,500.00. Following the transaction, the chief financial officer directly owned 10,042 shares of the company's stock, valued at $150,630. The trade was a 55.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sarina Tanimoto sold 37,656 shares of ARS Pharmaceuticals stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $14.09, for a total value of $530,573.04. Following the completion of the transaction, the insider directly owned 1,247,447 shares in the company, valued at approximately $17,576,528.23. This represents a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 112,500 shares of company stock valued at $1,615,759 over the last ninety days. 33.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in SPRY. ANTIPODES PARTNERS Ltd acquired a new position in ARS Pharmaceuticals in the first quarter valued at approximately $37,000. PNC Financial Services Group Inc. lifted its stake in ARS Pharmaceuticals by 78,100.0% in the first quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company's stock valued at $49,000 after buying an additional 3,905 shares during the period. Osaic Holdings Inc. lifted its stake in ARS Pharmaceuticals by 52.8% in the second quarter. Osaic Holdings Inc. now owns 5,215 shares of the company's stock valued at $91,000 after buying an additional 1,803 shares during the period. Ameritas Investment Partners Inc. lifted its stake in ARS Pharmaceuticals by 16.1% in the second quarter. Ameritas Investment Partners Inc. now owns 5,598 shares of the company's stock valued at $98,000 after buying an additional 777 shares during the period. Finally, RiverPark Advisors LLC acquired a new position in ARS Pharmaceuticals in the second quarter valued at approximately $100,000. 68.16% of the stock is 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.

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