ARS Pharmaceuticals’ (SPRY) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of ARS Pharmaceuticals (NASDAQ:SPRY) in a report published on Monday morning, Benzinga reports. They currently have a $30.00 price target on the stock.

SPRY has been the topic of a number of other reports. Raymond James raised ARS Pharmaceuticals from an outperform rating to a strong-buy rating and lifted their target price for the stock from $18.00 to $22.00 in a research report on Tuesday, August 13th. Leerink Partners lifted their price objective on ARS Pharmaceuticals from $19.00 to $20.00 and gave the stock an outperform rating in a report on Monday, August 12th. Finally, William Blair upgraded ARS Pharmaceuticals to a strong-buy rating in a research report on Friday, August 30th. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, ARS Pharmaceuticals has an average rating of Buy and a consensus price target of $22.75.

ARS Pharmaceuticals Trading Up 3.1 %

SPRY opened at $11.71 on Monday. ARS Pharmaceuticals has a 1-year low of $2.55 and a 1-year high of $16.50. The business has a 50 day moving average of $11.41 and a 200-day moving average of $9.78. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -22.52 and a beta of 0.89.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The business had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $2.00 million. Equities analysts predict that ARS Pharmaceuticals will post -0.66 EPS for the current year.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, Director Peter A. Thompson sold 407,700 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $13.56, for a total value of $5,528,412.00. Following the sale, the director now directly owns 544,677 shares in the company, valued at approximately $7,385,820.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Sarina Tanimoto sold 100,000 shares of ARS Pharmaceuticals stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $9.62, for a total transaction of $962,000.00. Following the completion of the transaction, the insider now directly owns 1,496,494 shares of the company’s stock, valued at approximately $14,396,272.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter A. Thompson sold 407,700 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $13.56, for a total transaction of $5,528,412.00. Following the completion of the transaction, the director now owns 544,677 shares in the company, valued at $7,385,820.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,029,257 shares of company stock valued at $13,094,169. 40.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SPRY. Russell Investments Group Ltd. bought a new position in ARS Pharmaceuticals in the 1st quarter valued at $60,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of ARS Pharmaceuticals by 151.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock valued at $63,000 after buying an additional 4,472 shares in the last quarter. Paloma Partners Management Co bought a new position in shares of ARS Pharmaceuticals in the first quarter valued at about $103,000. Principal Financial Group Inc. acquired a new position in ARS Pharmaceuticals during the 2nd quarter worth about $87,000. Finally, SG Americas Securities LLC acquired a new position in ARS Pharmaceuticals during the 1st quarter worth about $119,000. 68.16% of the stock is owned by institutional investors and hedge funds.

About ARS Pharmaceuticals

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.