ARS Pharmaceuticals (NASDAQ:SPRY) Upgraded to “Hold” at Wall Street Zen

ARS Pharmaceuticals (NASDAQ:SPRY) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other analysts have also issued research reports about the company. Scotiabank assumed coverage on ARS Pharmaceuticals in a research report on Friday, March 7th. They set a “sector outperform” rating and a $30.00 price objective on the stock. William Blair restated an “outperform” rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $31.00.

ARS Pharmaceuticals Stock Up 0.7%

Shares of NASDAQ:SPRY opened at $18.20 on Friday. The firm has a market capitalization of $1.79 billion, a PE ratio of -113.74 and a beta of 0.84. ARS Pharmaceuticals has a 1 year low of $8.02 and a 1 year high of $18.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 11.00 and a quick ratio of 10.74. The firm’s 50-day moving average is $14.63 and its two-hundred day moving average is $13.02.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, hitting the consensus estimate of ($0.35). The firm had revenue of $7.97 million for the quarter, compared to the consensus estimate of $7.48 million. ARS Pharmaceuticals had a negative net margin of 16.11% and a negative return on equity of 6.94%. Analysts predict that ARS Pharmaceuticals will post -0.55 EPS for the current year.

Insider Transactions at ARS Pharmaceuticals

In other news, insider Alexander A. Fitzpatrick sold 102,969 shares of the company’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $14.10, for a total transaction of $1,451,862.90. Following the completion of the transaction, the insider now directly owns 89,613 shares of the company’s stock, valued at approximately $1,263,543.30. This represents a 53.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brent L. Saunders sold 120,000 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $14.25, for a total value of $1,710,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 337,971 shares of company stock valued at $4,721,888. Insiders own 33.50% of the company’s stock.

Hedge Funds Weigh In On ARS Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. purchased a new position in ARS Pharmaceuticals in the fourth quarter valued at approximately $27,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of ARS Pharmaceuticals in the 1st quarter valued at $37,000. GAMMA Investing LLC grew its position in shares of ARS Pharmaceuticals by 4,319.7% in the 1st quarter. GAMMA Investing LLC now owns 3,359 shares of the company’s stock valued at $420,000 after buying an additional 3,283 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in ARS Pharmaceuticals by 78,100.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company’s stock worth $49,000 after acquiring an additional 3,905 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in ARS Pharmaceuticals during the 4th quarter worth $73,000. 68.16% of the stock is 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.