ARS Pharmaceuticals (NASDAQ:SPRY) Rating Lowered to Strong Sell at Zacks Research

ARS Pharmaceuticals (NASDAQ:SPRY) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday,Zacks.com reports.

Several other analysts have also recently weighed in on SPRY. Raymond James Financial set a $32.00 price target on ARS Pharmaceuticals in a report on Friday, September 26th. Wall Street Zen downgraded ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Roth Capital started coverage on shares of ARS Pharmaceuticals in a report on Thursday, September 4th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.80.

ARS Pharmaceuticals Stock Down 0.7%

SPRY opened at $9.65 on Wednesday. The company has a fifty day moving average price of $11.02 and a 200-day moving average price of $13.97. The firm has a market capitalization of $953.67 million, a P/E ratio of -19.69 and a beta of 0.84. 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 has a one year low of $9.34 and a one year high of $18.90.

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

Insider Buying and Selling

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in ARS Pharmaceuticals by 243.7% in the 3rd quarter. CWM LLC now owns 2,547 shares of the company’s stock worth $26,000 after purchasing an additional 1,806 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of ARS Pharmaceuticals during the first quarter valued at approximately $37,000. PNC Financial Services Group Inc. lifted its holdings in shares of 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 worth $49,000 after buying an additional 3,905 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of ARS Pharmaceuticals by 52.8% during the second quarter. Osaic Holdings Inc. now owns 5,215 shares of the company’s stock worth $91,000 after acquiring an additional 1,803 shares during the last quarter. Finally, CX Institutional purchased a new position in ARS Pharmaceuticals during the third quarter valued at $92,000. Institutional investors 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.