ARS Pharmaceuticals (NASDAQ:SPRY) Stock Rating Lowered by Raymond James Financial

ARS Pharmaceuticals (NASDAQ:SPRY) was downgraded by equities research analysts at Raymond James Financial from a “strong-buy” rating to an “outperform” rating in a research note issued on Friday, Marketbeat Ratings reports.

SPRY has been the topic of a number of other research reports. Weiss Ratings downgraded ARS Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 17th. Leerink Partners set a $15.00 target price on ARS Pharmaceuticals in a research report on Tuesday, September 8th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, ARS Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $23.33.

ARS Pharmaceuticals Stock Performance

Shares of SPRY stock opened at $2.65 on Friday. The company has a debt-to-equity ratio of 13.72, a quick ratio of 3.28 and a current ratio of 3.48. ARS Pharmaceuticals has a one year low of $2.59 and a one year high of $13.15. The company’s 50-day simple moving average is $4.36 and its 200-day simple moving average is $7.26. The stock has a market capitalization of $263.53 million, a price-to-earnings ratio of -1.22 and a beta of 0.98.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.06). The firm had revenue of $37.71 million during the quarter, compared to the consensus estimate of $41.99 million. ARS Pharmaceuticals had a negative net margin of 184.24% and a negative return on equity of 256.67%. Equities analysts anticipate that ARS Pharmaceuticals will post -1.91 earnings per share for the current fiscal year.

Institutional Trading of ARS Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. USAdvisors Wealth Management LLC bought a new position in shares of ARS Pharmaceuticals in the 3rd quarter worth about $43,000. StoneX Group Inc. acquired a new position in shares of ARS Pharmaceuticals in the 3rd quarter valued at about $44,000. Inscription Capital LLC bought a new stake in shares of ARS Pharmaceuticals during the 3rd quarter valued at about $56,000. Bessemer Group Inc. grew its position in shares of 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 last quarter. Finally, Alpine Woods Capital Investors LLC bought a new stake in shares of ARS Pharmaceuticals during the 1st quarter valued at about $80,000. 68.16% of the stock is owned by institutional investors and hedge funds.

About ARS Pharmaceuticals

ARS Pharmaceuticals, Inc (NASDAQ: SPRY) is a biopharmaceutical company focused on developing and commercializing treatments for severe allergic reactions. The company’s lead product is neffy (epinephrine nasal spray), a needle-free alternative to injectable epinephrine designed for the emergency treatment of allergic reactions, including anaphylaxis.

Neffy was approved by the U.S. Food and Drug Administration in 2024 for adults and pediatric patients who weigh at least 30 kilograms. The product is intended to provide rapid, convenient administration without requiring a syringe or injector, which may help address barriers associated with the use of traditional epinephrine auto-injectors.