ARS Pharmaceuticals (NASDAQ:SPRY) Shares Gap Up – Here’s What Happened

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) gapped up before the market opened 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.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SPRY shares. Roth Capital started coverage on ARS Pharmaceuticals in a research report on Tuesday, November 4th. They issued a “buy” rating and a $30.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, October 8th. Zacks Research raised shares of ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. Finally, Raymond James Financial set a $32.00 price target on shares of ARS Pharmaceuticals in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ARS Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $31.80.

ARS Pharmaceuticals Trading Up 18.8%

The business’s fifty day moving average price is $9.75 and its 200 day moving average price is $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. The firm has a market capitalization of $1.29 billion, a PE ratio of -16.02 and a beta of 0.80.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its earnings results on Monday, November 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.07). The firm had revenue of $32.50 million for the quarter, compared to analyst estimates of $28.87 million. ARS Pharmaceuticals had a negative return on equity of 38.77% and a negative net margin of 56.06%. As a group, analysts expect 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, COO Brian Dorsey sold 21,828 shares of ARS Pharmaceuticals stock in a transaction dated Thursday, November 13th. The stock was 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 owned 10,789 shares in the company, valued at $93,972.19. The trade was a 66.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Justin Chakma sold 166,380 shares of the company’s stock in a transaction dated 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. Corporate insiders own 33.50% of the company’s stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

A number of institutional investors have recently bought and sold shares of SPRY. Royal Bank of Canada boosted its holdings in shares of ARS Pharmaceuticals by 1,075.3% in the 1st quarter. Royal Bank of Canada now owns 18,547 shares of the company’s stock valued at $234,000 after purchasing an additional 16,969 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of ARS Pharmaceuticals in the 1st quarter worth $140,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in ARS Pharmaceuticals by 13.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 279,840 shares of the company’s stock valued at $3,520,000 after acquiring an additional 32,526 shares during the last quarter. Rhumbline Advisers boosted its holdings in ARS Pharmaceuticals by 7.1% in the first quarter. Rhumbline Advisers now owns 69,766 shares of the company’s stock valued at $878,000 after acquiring an additional 4,603 shares during the last quarter. Finally, Harbour Capital Advisors LLC grew its position in ARS Pharmaceuticals by 102.3% during the second quarter. Harbour Capital Advisors LLC now owns 57,950 shares of the company’s stock valued at $971,000 after acquiring an additional 29,300 shares during the period. 68.16% of the stock is currently owned by hedge funds and other institutional investors.

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.