ARS Pharmaceuticals (NASDAQ:SPRY) Sets New 52-Week Low – Should You Sell?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $8.27 and last traded at $8.3150, with a volume of 1998386 shares. The stock had previously closed at $9.05.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Wall Street Zen lowered ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Zacks Research downgraded ARS Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, October 8th. Roth Capital began coverage on ARS Pharmaceuticals in a report on Tuesday. They issued a “buy” rating and a $30.00 price target for the company. Finally, Raymond James Financial set a $32.00 price target on ARS Pharmaceuticals in a report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.80.

ARS Pharmaceuticals Price Performance

The company has a current ratio of 6.17, a quick ratio of 5.98 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average price of $10.12 and a 200 day moving average price of $13.66. The company has a market capitalization of $810.90 million, a P/E ratio of -16.74 and a beta of 0.83.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.05). The firm had revenue of $15.72 million during the quarter, compared to the consensus estimate 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, equities analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, CFO Kathleen D. Scott sold 12,500 shares of the business’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 owned 10,042 shares of the company’s stock, valued at approximately $150,630. The trade was a 55.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sarina Tanimoto sold 37,656 shares of the business’s stock in a transaction 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 transaction, the insider directly owned 1,247,447 shares of the company’s stock, valued at $17,576,528.23. This trade represents a 2.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 112,500 shares of company stock valued at $1,615,759 in the last three months. Corporate insiders own 33.50% of the company’s stock.

Hedge Funds Weigh In On ARS Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its position in shares of ARS Pharmaceuticals by 10.4% during the second quarter. Nisa Investment Advisors LLC now owns 6,281 shares of the company’s stock valued at $110,000 after acquiring an additional 590 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of ARS Pharmaceuticals by 16.1% during the second quarter. Ameritas Investment Partners Inc. now owns 5,598 shares of the company’s stock valued at $98,000 after acquiring an additional 777 shares during the last quarter. Matisse Capital increased its position in shares of ARS Pharmaceuticals by 1.8% during the second quarter. Matisse Capital now owns 56,714 shares of the company’s stock valued at $990,000 after acquiring an additional 1,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of ARS Pharmaceuticals by 3.8% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,994 shares of the company’s stock valued at $596,000 after acquiring an additional 1,234 shares during the last quarter. Finally, Profund Advisors LLC increased its position in shares of ARS Pharmaceuticals by 8.0% during the second quarter. Profund Advisors LLC now owns 17,088 shares of the company’s stock valued at $298,000 after acquiring an additional 1,264 shares during the last quarter. 68.16% of the stock is currently owned by 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.