ARS Pharmaceuticals (NASDAQ:SPRY) Releases Quarterly Earnings Results, Hits Estimates

ARS Pharmaceuticals (NASDAQ:SPRY) announced its quarterly earnings results on Monday. The company reported ($0.42) EPS for the quarter, meeting the consensus estimate of ($0.42), FiscalAI reports. ARS Pharmaceuticals had a negative return on equity of 38.77% and a negative net margin of 56.06%.The business had revenue of $28.09 million for the quarter, compared to analyst estimates of $25.58 million.

ARS Pharmaceuticals Stock Down 0.7%

Shares of NASDAQ SPRY opened at $9.06 on Monday. The firm has a 50 day moving average price of $10.20 and a 200 day moving average price of $10.11. The stock has a market cap of $895.58 million, a P/E ratio of -11.19 and a beta of 0.78. ARS Pharmaceuticals has a 52-week low of $6.66 and a 52-week high of $18.90. The company has a debt-to-equity ratio of 1.14, a quick ratio of 6.51 and a current ratio of 6.66.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SPRY shares. Weiss Ratings reissued a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, January 21st. Zacks Research raised shares of ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 25th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ARS Pharmaceuticals has an average rating of “Hold” and a consensus price target of $31.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPRY. Rubric Capital Management LP increased its holdings in shares of ARS Pharmaceuticals by 247.5% in the third quarter. Rubric Capital Management LP now owns 4,500,000 shares of the company’s stock worth $45,225,000 after acquiring an additional 3,205,122 shares in the last quarter. Millennium Management LLC acquired a new position in shares of ARS Pharmaceuticals in the 4th quarter valued at approximately $36,912,000. Adage Capital Partners GP L.L.C. bought a new stake in ARS Pharmaceuticals during the 2nd quarter worth approximately $30,154,000. Qube Research & Technologies Ltd bought a new stake in ARS Pharmaceuticals during the 3rd quarter worth approximately $10,400,000. Finally, FIL Ltd acquired a new stake in ARS Pharmaceuticals during the 4th quarter worth approximately $9,437,000. 68.16% of the stock is currently owned by 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.