ARS Pharmaceuticals (NASDAQ:SPRY) Shares Gap Up – Should You Buy?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s share price gapped up before the market opened on Monday . The stock had previously closed at $8.85, but opened at $10.00. ARS Pharmaceuticals shares last traded at $9.9640, with a volume of 863,109 shares.

Wall Street Analyst Weigh In

SPRY has been the subject of several recent research reports. Zacks Research cut ARS Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. Roth Capital assumed coverage on shares of ARS Pharmaceuticals in a research note on Tuesday, November 4th. They set a “buy” rating and a $30.00 price objective on the stock. Wall Street Zen cut shares of ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Weiss Ratings restated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Raymond James Financial set a $32.00 price objective on ARS Pharmaceuticals in a research report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.80.

ARS Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.98 and a current ratio of 6.17. The stock has a market capitalization of $843.02 million, a PE ratio of -17.46 and a beta of 0.83. The stock’s 50 day moving average is $9.97 and its two-hundred day moving average is $13.57.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its earnings results on Monday, November 10th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.07). ARS Pharmaceuticals had a negative net margin of 42.74% and a negative return on equity of 21.85%. On average, equities analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, CFO Kathleen D. Scott sold 12,500 shares of ARS Pharmaceuticals stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $15.00, for a total transaction of $187,500.00. Following the sale, the chief financial officer owned 10,042 shares of the company’s stock, valued at $150,630. The trade was a 55.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sarina Tanimoto sold 37,656 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $14.09, for a total transaction of $530,573.04. Following the sale, the insider directly owned 1,247,447 shares of the company’s stock, valued at $17,576,528.23. The trade was a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 112,500 shares of company stock worth $1,615,759. Corporate insiders own 33.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. CWM LLC grew its position in shares of ARS Pharmaceuticals by 243.7% in the third quarter. CWM LLC now owns 2,547 shares of the company’s stock valued at $26,000 after purchasing an additional 1,806 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in ARS Pharmaceuticals during the first quarter worth $37,000. PNC Financial Services Group Inc. grew its holdings in ARS Pharmaceuticals by 78,100.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company’s stock valued at $49,000 after buying an additional 3,905 shares in the last quarter. Osaic Holdings Inc. increased its stake 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 last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in shares of ARS Pharmaceuticals by 16.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,598 shares of the company’s stock worth $98,000 after acquiring an additional 777 shares during the last quarter. 68.16% of the stock is owned by hedge funds and other institutional investors.

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.