ARS Pharmaceuticals, Inc. (NASDAQ:SPRY – Get Free Report)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $4.91 and last traded at $5.2630, with a volume of 375938 shares traded. The stock had previously closed at $5.13.
Analyst Ratings Changes
SPRY has been the topic of a number of research reports. Weiss Ratings upgraded ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. Leerink Partners decreased their target price on ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday, June 25th. Cantor Fitzgerald increased their target price on shares of ARS Pharmaceuticals from $12.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Northland Securities began coverage on shares of ARS Pharmaceuticals in a report on Thursday, April 9th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, Wall Street Zen raised shares of ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.20.
Get Our Latest Stock Report on SPRY
ARS Pharmaceuticals Trading Up 5.0%
ARS Pharmaceuticals (NASDAQ:SPRY – Get Free Report) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.08). ARS Pharmaceuticals had a negative net margin of 200.00% and a negative return on equity of 153.61%. The firm had revenue of $22.68 million for the quarter, compared to analyst estimates of $22.20 million. On average, equities analysts forecast that ARS Pharmaceuticals, Inc. will post -1.95 earnings per share for the current fiscal year.
Insider Transactions at ARS Pharmaceuticals
In other news, insider Eric Karas sold 25,000 shares of ARS Pharmaceuticals stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $10.00, for a total transaction of $250,000.00. Following the sale, the insider directly owned 12,176 shares of the company’s stock, valued at approximately $121,760. The trade was a 67.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander A. Fitzpatrick sold 3,355 shares of ARS Pharmaceuticals stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $10.00, for a total value of $33,550.00. Following the sale, the insider directly owned 90,910 shares in the company, valued at approximately $909,100. The trade was a 3.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 33.80% of the company’s stock.
Institutional Investors Weigh In On ARS Pharmaceuticals
Hedge funds have recently bought and sold shares of the business. Rubric Capital Management LP raised its position in shares of ARS Pharmaceuticals by 29.0% in the 1st quarter. Rubric Capital Management LP now owns 8,000,000 shares of the company’s stock valued at $64,240,000 after purchasing an additional 1,800,000 shares in the last quarter. Aberdeen Group plc boosted its stake in shares of ARS Pharmaceuticals by 14.8% during the 4th quarter. Aberdeen Group plc now owns 3,556,049 shares of the company’s stock valued at $41,428,000 after buying an additional 459,027 shares during the last quarter. Vanguard Group Inc. grew its position in shares of ARS Pharmaceuticals by 7.3% during the third quarter. Vanguard Group Inc. now owns 3,500,303 shares of the company’s stock worth $35,178,000 after buying an additional 237,630 shares in the last quarter. State Street Corp grew its position in shares of ARS Pharmaceuticals by 11.3% during the fourth quarter. State Street Corp now owns 3,223,581 shares of the company’s stock worth $37,555,000 after buying an additional 328,325 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in shares of ARS Pharmaceuticals in the fourth quarter worth $36,912,000. Institutional investors and hedge funds 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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.
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