ARS Pharmaceuticals (NASDAQ:SPRY) Shares Down 5.7% – Time to Sell?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) shares traded down 5.7% during trading on Monday . The company traded as low as $7.71 and last traded at $7.7060. 938,212 shares changed hands during trading, a decline of 34% from the average session volume of 1,428,559 shares. The stock had previously closed at $8.17.

Analyst Upgrades and Downgrades

SPRY has been the subject of a number of recent research reports. Leerink Partners set a $26.00 target price on ARS Pharmaceuticals and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Weiss Ratings restated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, January 21st. Finally, Zacks Research raised shares of ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $29.33.

ARS Pharmaceuticals Stock Down 6.0%

The firm has a fifty day simple moving average of $9.60 and a 200-day simple moving average of $9.81. The company has a market capitalization of $762.33 million, a PE ratio of -4.40 and a beta of 0.78. The company has a debt-to-equity ratio of 1.47, a quick ratio of 7.06 and a current ratio of 7.28.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its earnings results on Monday, March 9th. The company reported ($0.42) EPS for the quarter, meeting the consensus estimate of ($0.42). The company had revenue of $28.09 million during the quarter, compared to analysts’ expectations of $25.58 million. ARS Pharmaceuticals had a negative return on equity of 100.29% and a negative net margin of 203.25%. Equities research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC increased its holdings in 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 buying an additional 1,806 shares during the last quarter. Torren Management LLC acquired a new stake in shares of ARS Pharmaceuticals during the 4th quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of ARS Pharmaceuticals by 25.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company’s stock valued at $56,000 after acquiring an additional 982 shares in the last quarter. Osterweis Capital Management Inc. bought a new position in ARS Pharmaceuticals during the fourth quarter worth $65,000. Finally, Russell Investments Group Ltd. lifted its stake 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 purchasing an additional 4,427 shares during the last quarter. 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.