ARS Pharmaceuticals, Inc. (NASDAQ:SPRY – Get Free Report) shares saw unusually-strong trading volume on Wednesday . 2,930,969 shares were traded during trading, an increase of 73% from the previous session’s volume of 1,692,701 shares.The stock last traded at $5.6560 and had previously closed at $5.67.
Analyst Ratings Changes
A number of research firms have recently commented on SPRY. Weiss Ratings raised ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. Wall Street Zen upgraded shares of ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Northland Securities began coverage on ARS Pharmaceuticals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $25.00 price target for the company. Cantor Fitzgerald increased their price target on ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Finally, Leerink Partners dropped their target price on shares of ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Thursday, June 25th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.20.
ARS Pharmaceuticals Trading Down 2.4%
ARS Pharmaceuticals (NASDAQ:SPRY – Get Free Report) last announced its quarterly earnings data 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 return on equity of 153.61% and a negative net margin of 200.00%.The firm had revenue of $22.68 million during the quarter, compared to analysts’ expectations of $22.20 million. Sell-side analysts predict that ARS Pharmaceuticals, Inc. will post -1.95 EPS for the current fiscal year.
Insider Activity
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 transaction, the insider directly owned 12,176 shares of the company’s stock, valued at $121,760. The trade was a 67.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 the firm’s stock in a transaction dated Friday, June 12th. The shares were 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. This represents 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. 33.80% of the stock is owned by corporate insiders.
Institutional Trading of ARS Pharmaceuticals
Several hedge funds have recently modified their holdings of the company. Torren Management LLC purchased a new position in ARS Pharmaceuticals in the fourth quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. increased 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 purchasing an additional 982 shares during the last quarter. Bessemer Group Inc. raised its holdings in ARS Pharmaceuticals by 3,102.1% during the 1st quarter. Bessemer Group Inc. now owns 7,525 shares of the company’s stock valued at $61,000 after buying an additional 7,290 shares during the period. Osterweis Capital Management Inc. bought a new stake in ARS Pharmaceuticals in the fourth quarter worth $65,000. Finally, Russell Investments Group Ltd. boosted 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 buying an additional 4,427 shares during the period. 68.16% of the stock is owned by hedge funds and other institutional investors.
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.
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