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

Zacks Research lowered shares of ARS Pharmaceuticals (NASDAQ:SPRY) from a hold rating to a strong sell rating in a report released on Tuesday,Zacks.com reports.

A number of other research analysts have also issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, January 21st. Roth Mkm initiated coverage on shares of ARS Pharmaceuticals in a research report on Tuesday, November 4th. They issued a “buy” rating and a $30.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $33.00.

ARS Pharmaceuticals Price Performance

Shares of NASDAQ:SPRY opened at $10.22 on Tuesday. ARS Pharmaceuticals has a one year low of $6.66 and a one year high of $18.90. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -12.62 and a beta of 0.80. The company has a 50-day simple moving average of $10.53 and a 200-day simple moving average of $11.57. The company has a debt-to-equity ratio of 1.14, a quick ratio of 6.51 and a current ratio of 6.66.

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

Insider Activity at ARS Pharmaceuticals

In related news, insider Justin Chakma sold 166,380 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $8.87, for a total transaction of $1,475,790.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Brian Dorsey sold 21,828 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $8.71, for a total value of $190,121.88. Following the completion of the sale, the chief operating officer directly owned 10,789 shares of the company’s stock, valued at approximately $93,972.19. This trade represents a 66.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 33.50% of the stock is owned by company insiders.

Institutional Trading of ARS Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its position in ARS Pharmaceuticals by 243.7% during the third quarter. CWM LLC now owns 2,547 shares of the company’s stock worth $26,000 after buying an additional 1,806 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of ARS Pharmaceuticals by 25.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company’s stock worth $56,000 after acquiring an additional 982 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of ARS Pharmaceuticals by 52.8% in the 2nd 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 period. Ameritas Investment Partners Inc. increased its stake in ARS Pharmaceuticals by 16.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,598 shares of the company’s stock valued at $98,000 after purchasing an additional 777 shares in the last quarter. Finally, RiverPark Advisors LLC purchased a new position in ARS Pharmaceuticals in the 2nd quarter valued at approximately $100,000. Hedge funds and other institutional investors own 68.16% of the company’s stock.

About ARS Pharmaceuticals

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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.