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

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

Several other brokerages have also recently weighed in on SPRY. Roth Mkm started coverage on ARS Pharmaceuticals in a research note on Tuesday, November 4th. They set a “buy” rating and a $30.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ARS Pharmaceuticals presently has an average rating of “Hold” and an average price target of $33.00.

ARS Pharmaceuticals Price Performance

Shares of SPRY stock opened at $10.06 on Tuesday. The firm has a fifty day moving average of $10.46 and a two-hundred day moving average of $11.58. The firm has a market cap of $994.43 million, a P/E ratio of -12.42 and a beta of 0.80. 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.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings data 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). ARS Pharmaceuticals had a negative return on equity of 38.77% and a negative net margin of 56.06%.The firm had revenue of $32.50 million for the quarter, compared to the consensus estimate of $28.87 million. As a group, research analysts anticipate that ARS Pharmaceuticals will post -0.55 earnings per share for the current fiscal year.

Insider Transactions at ARS Pharmaceuticals

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

Institutional Investors Weigh In On ARS Pharmaceuticals

Several large investors have recently bought and sold shares of the company. Knights of Columbus Asset Advisors LLC raised its position in shares of ARS Pharmaceuticals by 57.8% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 68,094 shares of the company’s stock valued at $1,188,000 after purchasing an additional 24,950 shares during the period. Geode Capital Management LLC grew its position in shares of ARS Pharmaceuticals by 6.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,342,387 shares of the company’s stock worth $23,427,000 after purchasing an additional 81,910 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new position in shares of ARS Pharmaceuticals during the second quarter worth approximately $1,832,000. Ardsley Advisory Partners LP increased its holdings in shares of ARS Pharmaceuticals by 46.2% during the second quarter. Ardsley Advisory Partners LP now owns 475,000 shares of the company’s stock worth $8,289,000 after purchasing an additional 150,000 shares during the period. Finally, Allianz Asset Management GmbH bought a new stake in shares of ARS Pharmaceuticals in the second quarter valued at approximately $639,000. Institutional investors own 68.16% of the company’s stock.

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