ARS Pharmaceuticals (NASDAQ:SPRY) Shares Down 5.7% – Here’s Why
by Mitch Edgeman · The Markets DailyARS Pharmaceuticals, Inc. (NASDAQ:SPRY – Get Free Report)’s stock price dropped 5.7% on Monday . The stock traded as low as $7.71 and last traded at $7.7060. Approximately 938,212 shares traded hands during trading, a decline of 34% from the average daily volume of 1,428,559 shares. The stock had previously closed at $8.17.
Wall Street Analyst Weigh In
SPRY has been the topic of a number of research analyst reports. Zacks Research upgraded ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research report on Wednesday, January 21st. Finally, Leerink Partners set a $26.00 price target on ARS Pharmaceuticals and gave the stock an “outperform” rating in a research note on Tuesday, March 10th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $29.33.
Read Our Latest Stock Analysis on ARS Pharmaceuticals
ARS Pharmaceuticals Stock Up 4.8%
The business has a 50-day simple moving average of $9.45 and a two-hundred day simple moving average of $9.77. The company has a market capitalization of $784.47 million, a price-to-earnings ratio of -4.51 and a beta of 0.78. The company has a debt-to-equity ratio of 1.47, a quick ratio of 7.06 and a current ratio of 7.28.
ARS Pharmaceuticals (NASDAQ:SPRY – Get Free Report) last released its earnings results on Monday, March 9th. The company reported ($0.42) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.42). ARS Pharmaceuticals had a negative return on equity of 100.29% and a negative net margin of 203.25%.The business had revenue of $28.09 million for the quarter, compared to analyst estimates of $25.58 million. As a group, equities analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.
Hedge Funds Weigh In On ARS Pharmaceuticals
Several institutional investors have recently bought and sold shares of SPRY. CWM LLC lifted its stake in shares of ARS Pharmaceuticals by 243.7% in the 3rd quarter. CWM LLC now owns 2,547 shares of the company’s stock worth $26,000 after acquiring an additional 1,806 shares during the period. Torren Management LLC acquired a new position in shares of ARS Pharmaceuticals during the fourth quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in ARS Pharmaceuticals by 25.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company’s stock worth $56,000 after purchasing an additional 982 shares in the last quarter. Osterweis Capital Management Inc. purchased a new position in ARS Pharmaceuticals during the fourth quarter worth about $65,000. Finally, Russell Investments Group Ltd. lifted its position in ARS Pharmaceuticals by 197.5% in the third quarter. Russell Investments Group Ltd. now owns 6,668 shares of the company’s stock valued at $67,000 after purchasing an additional 4,427 shares during the period. 68.16% of the stock is owned by institutional investors and hedge funds.
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.