ARS Pharmaceuticals (NASDAQ:SPRY) Reaches New 12-Month Low – Time to Sell?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) reached a new 52-week low during trading on Monday . The company traded as low as $4.91 and last traded at $5.2630, with a volume of 375938 shares trading hands. The stock had previously closed at $5.13.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SPRY shares. Weiss Ratings raised shares of ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. Northland Securities began coverage on shares of ARS Pharmaceuticals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $25.00 target price on the stock. Wall Street Zen raised shares of ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Leerink Partners decreased their price target on ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Thursday, June 25th. Finally, Cantor Fitzgerald boosted their price objective on ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ARS Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $28.20.

ARS Pharmaceuticals Trading Up 5.0%

The firm’s fifty day moving average price is $8.18 and its 200-day moving average price is $8.64. The company has a market cap of $535.13 million, a price-to-earnings ratio of -2.67 and a beta of 0.98. The company has a debt-to-equity ratio of 2.79, a current ratio of 4.94 and a quick ratio of 4.77.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.08). The firm had revenue of $22.68 million during the quarter, compared to analyst estimates of $22.20 million. ARS Pharmaceuticals had a negative return on equity of 153.61% and a negative net margin of 200.00%. On average, equities analysts expect that ARS Pharmaceuticals, Inc. will post -1.95 EPS for the current fiscal year.

Insider Activity

In other news, insider Alexander A. Fitzpatrick sold 3,355 shares of ARS Pharmaceuticals stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $10.00, for a total transaction of $33,550.00. Following the sale, the insider owned 90,910 shares of the company’s stock, valued at approximately $909,100. The trade was a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Karas sold 25,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $10.00, for a total value of $250,000.00. Following the sale, the insider directly owned 12,176 shares in the company, valued at approximately $121,760. This trade represents a 67.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 33.80% of the stock is currently owned by corporate insiders.

Institutional Trading of ARS Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Rubric Capital Management LP increased its holdings in shares of ARS Pharmaceuticals by 247.5% during the third quarter. Rubric Capital Management LP now owns 4,500,000 shares of the company’s stock valued at $45,225,000 after purchasing an additional 3,205,122 shares during the period. Millennium Management LLC bought a new stake in shares of ARS Pharmaceuticals during the fourth quarter valued at about $36,912,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of ARS Pharmaceuticals during the second quarter valued at about $30,154,000. UBS Group AG lifted its holdings in ARS Pharmaceuticals by 235.0% in the fourth quarter. UBS Group AG now owns 2,210,866 shares of the company’s stock worth $25,757,000 after purchasing an additional 1,550,980 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new stake in ARS Pharmaceuticals in the third quarter worth about $10,400,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

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.