ARS Pharmaceuticals (NASDAQ:SPRY) Lowered to Strong Sell Rating by Zacks Research

ARS Pharmaceuticals (NASDAQ:SPRY) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Wall Street Zen lowered ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Raymond James Financial set a $32.00 target price on ARS Pharmaceuticals in a research report on Friday, September 26th. Roth Capital started coverage on ARS Pharmaceuticals in a research report on Thursday, September 4th. They set a “buy” rating and a $40.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research report on Wednesday, October 8th. One equities research 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $33.80.

ARS Pharmaceuticals Trading Down 0.7%

SPRY opened at $9.65 on Wednesday. The firm has a market cap of $953.67 million, a P/E ratio of -19.69 and a beta of 0.84. ARS Pharmaceuticals has a 12 month low of $9.34 and a 12 month high of $18.90. The company has a current ratio of 6.17, a quick ratio of 5.98 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average of $11.02 and a 200 day moving average of $13.97.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.05). The company had revenue of $15.72 million during the quarter, compared to analysts’ expectations of $12.92 million. ARS Pharmaceuticals had a negative return on equity of 21.85% and a negative net margin of 42.74%. As a group, research analysts forecast that ARS Pharmaceuticals will post -0.55 EPS for the current year.

Insider Activity at ARS Pharmaceuticals

In related news, insider Sarina Tanimoto sold 37,656 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $14.09, for a total value of $530,573.04. Following the completion of the sale, the insider owned 1,247,447 shares in the company, valued at approximately $17,576,528.23. The trade was a 2.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard E. Lowenthal sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $14.49, for a total value of $724,500.00. Following the completion of the sale, the chief executive officer owned 1,196,494 shares of the company’s stock, valued at $17,337,198.06. The trade was a 4.01% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 112,500 shares of company stock worth $1,615,759. Company insiders own 33.50% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its holdings in shares of ARS Pharmaceuticals by 10.4% in the second quarter. Nisa Investment Advisors LLC now owns 6,281 shares of the company’s stock valued at $110,000 after purchasing an additional 590 shares during the period. Ameritas Investment Partners Inc. raised its stake in ARS Pharmaceuticals by 16.1% in the second quarter. Ameritas Investment Partners Inc. now owns 5,598 shares of the company’s stock worth $98,000 after buying an additional 777 shares in the last quarter. Matisse Capital raised its stake in ARS Pharmaceuticals by 1.8% in the second quarter. Matisse Capital now owns 56,714 shares of the company’s stock worth $990,000 after buying an additional 1,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in ARS Pharmaceuticals by 3.8% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,994 shares of the company’s stock worth $596,000 after buying an additional 1,234 shares in the last quarter. Finally, Profund Advisors LLC raised its stake in ARS Pharmaceuticals by 8.0% in the second quarter. Profund Advisors LLC now owns 17,088 shares of the company’s stock worth $298,000 after buying an additional 1,264 shares in the last quarter. Hedge funds and other institutional investors own 68.16% of the company’s stock.

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.