ARS Pharmaceuticals (NASDAQ:SPRY) Sees Strong Trading Volume – Time to Buy?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) saw unusually-strong trading volume on Friday . Approximately 947,927 shares were traded during trading, a decline of 38% from the previous session’s volume of 1,530,281 shares.The stock last traded at $7.3070 and had previously closed at $7.94.

Analyst Ratings Changes

Several equities analysts have weighed in on SPRY shares. Northland Securities started coverage on ARS Pharmaceuticals in a research note on Thursday, April 9th. They set an “outperform” rating and a $25.00 target price on the stock. Weiss Ratings cut ARS Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, April 24th. Leerink Partners set a $26.00 target price on ARS Pharmaceuticals and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Finally, Zacks Research raised ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $28.25.

ARS Pharmaceuticals Stock Down 5.4%

The stock has a market cap of $746.24 million, a P/E ratio of -4.30 and a beta of 0.93. The company has a quick ratio of 7.06, a current ratio of 7.28 and a debt-to-equity ratio of 1.47. The business has a 50-day simple moving average of $8.33 and a 200-day simple moving average of $9.30.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its earnings results on Friday, May 15th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.08). The company had revenue of $22.68 million for the quarter, compared to the consensus estimate of $22.20 million. ARS Pharmaceuticals had a negative return on equity of 100.29% and a negative net margin of 203.25%. Analysts expect that ARS Pharmaceuticals, Inc. will post -1.61 EPS for the current year.

Institutional Investors Weigh In On ARS Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Rubric Capital Management LP lifted its holdings in shares of ARS Pharmaceuticals by 247.5% during the third quarter. Rubric Capital Management LP now owns 4,500,000 shares of the company’s stock worth $45,225,000 after buying an additional 3,205,122 shares during the last quarter. Millennium Management LLC acquired a new position in shares of ARS Pharmaceuticals during the fourth quarter worth approximately $36,912,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of ARS Pharmaceuticals during the second quarter worth approximately $30,154,000. Casdin Capital LLC acquired a new position in shares of ARS Pharmaceuticals during the third quarter worth approximately $16,080,000. Finally, Aberdeen Group plc lifted its holdings in shares of ARS Pharmaceuticals by 106.1% during the third quarter. Aberdeen Group plc now owns 3,097,022 shares of the company’s stock worth $31,125,000 after buying an additional 1,594,447 shares during the last quarter. Institutional investors own 68.16% of the company’s stock.

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.