ARS Pharmaceuticals (NASDAQ:SPRY) Upgraded at Zacks Research

Zacks Research upgraded shares of ARS Pharmaceuticals (NASDAQ:SPRY) from a strong sell rating to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

SPRY has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research note on Wednesday, October 8th. Roth Capital began coverage on ARS Pharmaceuticals in a research report on Tuesday, November 4th. They set a “buy” rating and a $30.00 target price on the stock. Raymond James Financial set a $32.00 target price on ARS Pharmaceuticals in a research note on Friday, September 26th. 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 assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ARS Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.80.

ARS Pharmaceuticals Stock Up 12.8%

Shares of NASDAQ:SPRY opened at $7.59 on Thursday. ARS Pharmaceuticals has a 1 year low of $6.66 and a 1 year high of $18.90. The company has a debt-to-equity ratio of 1.14, a current ratio of 6.66 and a quick ratio of 6.51. The firm’s 50-day moving average is $9.43 and its two-hundred day moving average is $13.14. The firm has a market capitalization of $750.27 million, a PE ratio of -9.37 and a beta of 0.83.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.07). The firm had revenue of $32.50 million during the quarter, compared to analysts’ expectations of $28.87 million. ARS Pharmaceuticals had a negative net margin of 56.06% and a negative return on equity of 38.77%. Analysts predict that ARS Pharmaceuticals will post -0.55 EPS for the current year.

Insider Activity at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, COO Brian Dorsey sold 21,828 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $8.71, for a total value of $190,121.88. Following the sale, the chief operating officer owned 10,789 shares of the company’s stock, valued at approximately $93,972.19. This represents a 66.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Justin Chakma sold 166,380 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $8.87, for a total value of $1,475,790.60. The disclosure for this sale is available in the SEC filing. 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. CWM LLC lifted its holdings in shares of ARS Pharmaceuticals by 243.7% in the third quarter. CWM LLC now owns 2,547 shares of the company’s stock valued at $26,000 after purchasing an additional 1,806 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in ARS Pharmaceuticals by 78,100.0% in the 1st 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 in the last quarter. Russell Investments Group Ltd. lifted its stake in ARS Pharmaceuticals by 197.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,668 shares of the company’s stock valued at $67,000 after buying an additional 4,427 shares in the last quarter. Quantbot Technologies LP acquired a new stake in ARS Pharmaceuticals during the 3rd quarter valued at $82,000. Finally, Osaic Holdings Inc. increased its position in 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 buying an additional 1,803 shares in the last quarter. 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.