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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) shares gapped up prior to trading on Friday . The stock had previously closed at $10.95, but opened at $12.33. ARS Pharmaceuticals shares last traded at $12.6740, with a volume of 1,808,149 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on SPRY. 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 target price on shares of ARS Pharmaceuticals in a report on Friday, September 26th. Zacks Research upgraded shares of ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 20th. Finally, Roth Capital began coverage on shares of ARS Pharmaceuticals in a research report on Tuesday, November 4th. They issued a “buy” rating and a $30.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, ARS Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $31.80.

ARS Pharmaceuticals Stock Performance

The stock has a market cap of $1.29 billion, a PE ratio of -16.02 and a beta of 0.80. The stock has a fifty day moving average of $9.75 and a 200-day moving average of $12.23. The company has a quick ratio of 6.51, a current ratio of 6.66 and a debt-to-equity ratio of 1.14.

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 the consensus estimate 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 company had revenue of $32.50 million during the quarter, compared to analysts’ expectations of $28.87 million. On average, equities analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Insider Buying and Selling at ARS Pharmaceuticals

In related 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 value of $1,475,790.60. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $8.71, for a total value of $190,121.88. Following the completion of the sale, the chief operating officer directly owned 10,789 shares in the company, valued at $93,972.19. This represents a 66.92% decrease in their position. The SEC filing for this sale provides additional information. 33.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC increased its holdings in shares of ARS Pharmaceuticals by 243.7% in the 3rd 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. Russell Investments Group Ltd. grew its position in ARS Pharmaceuticals by 197.5% during the third quarter. Russell Investments Group Ltd. now owns 6,668 shares of the company’s stock worth $67,000 after buying an additional 4,427 shares during the period. Quantbot Technologies LP purchased a new position in ARS Pharmaceuticals in the third quarter valued at about $82,000. Osaic Holdings Inc. lifted its position in shares of ARS Pharmaceuticals by 52.8% during the 2nd quarter. Osaic Holdings Inc. now owns 5,215 shares of the company’s stock valued at $91,000 after acquiring an additional 1,803 shares during the period. Finally, CX Institutional acquired a new stake in shares of ARS Pharmaceuticals during the 3rd quarter valued at approximately $92,000. Institutional investors and hedge funds 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.