Key Points
- Insider sale: On November 12, insider Justin Chakma sold 166,380 shares at an average price of $8.87, totaling about $1.48 million as disclosed on an SEC Form 4.
- Quarterly results: ARS reported Q results with EPS of ($0.52), missing estimates by $0.07 while revenue of $32.5M topped expectations; the company still shows a negative net margin (56.06%) and negative return on equity.
- Stock and analyst stance: SPRY trades near its 52‑week low (~$8.21) with a market cap of ~$812M, and analysts have a consensus rating of "Moderate Buy" with an average target of $31.80.
ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) COO Brian Dorsey sold 21,828 shares of the firm's stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $8.71, for a total transaction of $190,121.88. Following the sale, the chief operating officer owned 10,789 shares of the company's stock, valued at $93,972.19. The trade was a 66.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
ARS Pharmaceuticals Price Performance
Shares of NASDAQ SPRY traded down $0.20 during mid-day trading on Friday, reaching $8.21. The company had a trading volume of 1,960,687 shares, compared to its average volume of 2,013,188. The company has a 50-day moving average price of $9.75 and a two-hundred day moving average price of $13.39. The stock has a market cap of $811.56 million, a PE ratio of -10.14 and a beta of 0.83. The company has a current ratio of 6.66, a quick ratio of 5.98 and a debt-to-equity ratio of 1.14. ARS Pharmaceuticals, Inc. has a 1-year low of $8.05 and a 1-year high of $18.90.
ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.52) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $32.50 million during the quarter, compared to analysts' expectations of $28.87 million. On average, equities analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.
Wall Street Analyst Weigh In
Several analysts have issued reports on SPRY shares. Zacks Research downgraded shares of ARS Pharmaceuticals from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 22nd. Raymond James Financial set a $32.00 price objective on shares of ARS Pharmaceuticals in a research report on Friday, September 26th. Wall Street Zen lowered shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Roth Capital initiated coverage on shares of ARS Pharmaceuticals in a report on Tuesday, November 4th. They set a "buy" rating and a $30.00 price target on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ARS Pharmaceuticals in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, ARS Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $31.80.
Get Our Latest Stock Report on SPRY
Institutional Investors Weigh In On ARS Pharmaceuticals
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC grew its holdings in ARS Pharmaceuticals by 243.7% during 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 during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of ARS Pharmaceuticals during the 1st quarter worth $37,000. PNC Financial Services Group Inc. grew its stake 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 during the last quarter. Osaic Holdings Inc. raised its holdings in 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 period. Finally, Ameritas Investment Partners Inc. lifted its position in ARS Pharmaceuticals by 16.1% during 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 currently owned by institutional investors and hedge funds.
About ARS Pharmaceuticals
(
Get Free Report)
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.
Further Reading
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