Schulhoff & Co. Inc. Boosts Stake in ARS Pharmaceuticals, Inc. $SPRY

Schulhoff & Co. Inc. raised its position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 7.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,500 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. Schulhoff & Co. Inc.’s holdings in ARS Pharmaceuticals were worth $759,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in ARS Pharmaceuticals by 7.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 368,556 shares of the company’s stock worth $4,636,000 after purchasing an additional 24,385 shares during the period. Alliancebernstein L.P. raised its position in ARS Pharmaceuticals by 1.1% in the 1st quarter. Alliancebernstein L.P. now owns 3,922,805 shares of the company’s stock worth $49,349,000 after purchasing an additional 42,071 shares during the period. Octagon Capital Advisors LP purchased a new stake in ARS Pharmaceuticals in the 1st quarter worth about $7,862,000. Oppenheimer & Co. Inc. purchased a new stake in ARS Pharmaceuticals in the 1st quarter worth about $189,000. Finally, Trexquant Investment LP raised its position in ARS Pharmaceuticals by 78.2% in the 1st quarter. Trexquant Investment LP now owns 100,769 shares of the company’s stock worth $1,268,000 after purchasing an additional 44,206 shares during the period. 68.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research report on Wednesday, October 8th. Raymond James Financial set a $32.00 target price on shares of ARS Pharmaceuticals in a research report on Friday, September 26th. Roth Capital assumed coverage on shares of ARS Pharmaceuticals in a research report on Thursday, September 4th. They set a “buy” rating and a $40.00 target price on the stock. Finally, Wall Street Zen lowered shares of ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.80.

Insider Activity

In other news, CFO Kathleen D. Scott sold 12,500 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $15.00, for a total transaction of $187,500.00. Following the transaction, the chief financial officer directly owned 10,042 shares in the company, valued at approximately $150,630. This trade represents a 55.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sarina Tanimoto sold 37,656 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $14.09, for a total transaction of $530,573.04. Following the transaction, the insider owned 1,247,447 shares in the company, valued at approximately $17,576,528.23. This represents a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,500 shares of company stock worth $1,615,759. Corporate insiders own 33.50% of the company’s stock.

ARS Pharmaceuticals Price Performance

NASDAQ SPRY opened at $9.90 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.98 and a current ratio of 6.17. The firm’s 50 day moving average price is $11.24 and its 200-day moving average price is $14.02. ARS Pharmaceuticals, Inc. has a 52-week low of $9.34 and a 52-week high of $18.90. The company has a market cap of $978.42 million, a PE ratio of -20.20 and a beta of 0.84.

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

ARS Pharmaceuticals 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.