ARS Pharmaceuticals (NASDAQ:SPRY) Stock Rating Upgraded by Zacks Research

ARS Pharmaceuticals (NASDAQ:SPRY) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research note on Wednesday, October 8th. Raymond James Financial set a $32.00 price target on ARS Pharmaceuticals in a report on Friday, September 26th. Roth Capital initiated coverage on shares of ARS Pharmaceuticals in a research note on Tuesday, November 4th. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Wall Street Zen downgraded shares of ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. One 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. According to data from MarketBeat, ARS Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $31.80.

ARS Pharmaceuticals Trading 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 has a 50-day moving average of $9.43 and a 200 day moving average of $13.14. The stock has a market cap of $750.27 million, a P/E ratio of -9.37 and a beta of 0.83.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its earnings results 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). ARS Pharmaceuticals had a negative net margin of 56.06% and a negative return on equity of 38.77%. The business had revenue of $32.50 million for the quarter, compared to the consensus estimate of $28.87 million. As a group, sell-side analysts expect that ARS Pharmaceuticals will post -0.55 EPS for the current fiscal year.

Insider Activity

In other news, insider Justin Chakma sold 166,380 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $8.87, for a total transaction of $1,475,790.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Brian Dorsey sold 21,828 shares of ARS Pharmaceuticals stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $8.71, for a total transaction of $190,121.88. Following the completion of the sale, the chief operating officer owned 10,789 shares of the company’s stock, valued at $93,972.19. This represents a 66.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 33.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Rubric Capital Management LP raised its stake in ARS Pharmaceuticals by 247.5% during the 3rd quarter. Rubric Capital Management LP now owns 4,500,000 shares of the company’s stock valued at $45,225,000 after buying an additional 3,205,122 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of ARS Pharmaceuticals by 1.1% in the first quarter. Alliancebernstein L.P. now owns 3,922,805 shares of the company’s stock worth $49,349,000 after acquiring an additional 42,071 shares during the period. Vanguard Group Inc. grew its holdings in shares of ARS Pharmaceuticals by 7.3% in the third quarter. Vanguard Group Inc. now owns 3,500,303 shares of the company’s stock worth $35,178,000 after acquiring an additional 237,630 shares during the period. Aberdeen Group plc increased its position in ARS Pharmaceuticals by 106.1% during the third quarter. Aberdeen Group plc now owns 3,097,022 shares of the company’s stock valued at $31,125,000 after acquiring an additional 1,594,447 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in ARS Pharmaceuticals by 31.1% in the third quarter. Franklin Resources Inc. now owns 2,398,012 shares of the company’s stock valued at $24,100,000 after acquiring an additional 569,257 shares during the period. 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.