Weiss Ratings Reaffirms Sell (D-) Rating for ARS Pharmaceuticals (NASDAQ:SPRY)

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for ARS Pharmaceuticals (NASDAQ: SPRY), indicating bearish sentiment towards the stock.
• ARS Pharmaceuticals' stock fell by 5.6%, trading at $9.11, with a current average price target of $33.80 among analysts who have a consensus rating of "Moderate Buy."
• The company reported a quarterly loss of ($0.46) earnings per share, missing expectations, while revenue reached $15.72 million, exceeding analysts' forecasts.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report)'s stock had its "sell (d-)" rating restated by Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

SPRY has been the topic of a number of other reports. Raymond James Financial set a $32.00 price objective on ARS Pharmaceuticals in a research note on Friday, September 26th. Roth Capital started coverage on ARS Pharmaceuticals in a research note on Thursday, September 4th. They issued a "buy" rating and a $40.00 price objective on the stock. Zacks Research downgraded ARS Pharmaceuticals from a "hold" rating to a "strong sell" rating in a research note on Wednesday. Finally, Wall Street Zen downgraded ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, ARS Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $33.80.

ARS Pharmaceuticals Stock Down 5.6%

Shares of SPRY traded down $0.54 during midday trading on Friday, reaching $9.11. 1,903,074 shares of the stock were exchanged, compared to its average volume of 1,820,580. ARS Pharmaceuticals has a 12-month low of $9.08 and a 12-month high of $18.90. The firm has a 50 day simple moving average of $11.02 and a 200-day simple moving average of $13.97. The company has a quick ratio of 5.98, a current ratio of 6.17 and a debt-to-equity ratio of 0.37. The company has a market cap of $900.30 million, a price-to-earnings ratio of -18.59 and a beta of 0.84.

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

Insider Transactions at ARS Pharmaceuticals

In other news, 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 transaction of $530,573.04. Following the sale, the insider owned 1,247,447 shares of the company's stock, valued at approximately $17,576,528.23. This trade represents a 2.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the chief financial officer directly owned 10,042 shares in the company, valued at $150,630. The trade was a 55.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,500 shares of company stock valued at $1,615,759. 33.50% of the stock is owned by corporate insiders.

Institutional Trading of ARS Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of ARS Pharmaceuticals by 7.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 368,556 shares of the company's stock worth $4,636,000 after purchasing an additional 24,385 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of ARS Pharmaceuticals by 1.1% during the 1st quarter. Alliancebernstein L.P. now owns 3,922,805 shares of the company's stock worth $49,349,000 after purchasing an additional 42,071 shares in the last quarter. Octagon Capital Advisors LP acquired a new stake in shares of ARS Pharmaceuticals during the 1st quarter worth approximately $7,862,000. Oppenheimer & Co. Inc. acquired a new stake in shares of ARS Pharmaceuticals during the 1st quarter worth approximately $189,000. Finally, Trexquant Investment LP grew its holdings in shares of ARS Pharmaceuticals by 78.2% during the 1st quarter. Trexquant Investment LP now owns 100,769 shares of the company's stock worth $1,268,000 after purchasing an additional 44,206 shares in the last quarter. Institutional investors and hedge funds own 68.16% of the company's stock.

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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