ARS Pharmaceuticals (NASDAQ:SPRY) Coverage Initiated by Analysts at Roth Capital

Roth Capital initiated coverage on shares of ARS Pharmaceuticals (NASDAQ:SPRY) in a report published on Tuesday, MarketBeat reports. The firm issued a buy rating and a $30.00 price target on the stock.

SPRY has been the subject of several other research reports. Wall Street Zen cut shares of ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. Zacks Research cut shares of ARS Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Raymond James Financial set a $32.00 target price on shares of ARS Pharmaceuticals in a report on Friday, September 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, ARS Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.80.

ARS Pharmaceuticals Price Performance

ARS Pharmaceuticals stock opened at $8.71 on Tuesday. The stock has a market cap of $860.81 million, a P/E ratio of -17.78 and a beta of 0.83. The company has a fifty day simple moving average of $10.21 and a 200-day simple moving average of $13.70. ARS Pharmaceuticals has a 12-month low of $8.32 and a 12-month high of $18.90. The company has a current ratio of 6.17, a quick ratio of 5.98 and a debt-to-equity ratio of 0.37.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings data 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 for 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 analysts expect that ARS Pharmaceuticals will post -0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other ARS Pharmaceuticals news, insider Sarina Tanimoto sold 37,656 shares of the company’s 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 completion of the transaction, the insider owned 1,247,447 shares in the company, valued at approximately $17,576,528.23. This represents a 2.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard E. Lowenthal sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $14.49, for a total transaction of $724,500.00. Following the transaction, the chief executive officer owned 1,196,494 shares in the company, valued at $17,337,198.06. The trade was a 4.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 112,500 shares of company stock worth $1,615,759. 33.50% of the stock is owned by insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. increased its holdings in ARS Pharmaceuticals by 1.1% during the 1st quarter. Alliancebernstein L.P. now owns 3,922,805 shares of the company’s stock valued at $49,349,000 after acquiring an additional 42,071 shares in the last quarter. Vanguard Group Inc. increased its holdings in ARS Pharmaceuticals by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 3,488,293 shares of the company’s stock valued at $43,883,000 after acquiring an additional 23,341 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in ARS Pharmaceuticals during the 2nd quarter valued at about $30,154,000. Cormorant Asset Management LP grew its holdings in shares of ARS Pharmaceuticals by 220.0% during the first quarter. Cormorant Asset Management LP now owns 1,600,000 shares of the company’s stock worth $20,128,000 after buying an additional 1,100,000 shares in the last quarter. Finally, Aberdeen Group plc lifted its stake in shares of ARS Pharmaceuticals by 49.9% during the second quarter. Aberdeen Group plc now owns 1,502,575 shares of the company’s stock valued at $26,220,000 after buying an additional 499,916 shares during the period. 68.16% of the stock is currently owned by hedge funds and other 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.