ARS Pharmaceuticals (NASDAQ:SPRY) Receives Overweight Rating from Cantor Fitzgerald

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

Other equities research analysts also recently issued research reports about the company. William Blair raised ARS Pharmaceuticals to a strong-buy rating in a report on Friday, August 30th. Leerink Partners raised their target price on shares of ARS Pharmaceuticals from $19.00 to $20.00 and gave the company an outperform rating in a research note on Monday, August 12th. Finally, Raymond James raised shares of 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 report on Tuesday, August 13th. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Buy and an average price target of $22.75.

ARS Pharmaceuticals Trading Down 2.6 %

Shares of NASDAQ SPRY opened at $12.95 on Monday. The company has a fifty day moving average price of $11.75 and a 200 day moving average price of $9.91. The firm has a market cap of $1.25 billion, a PE ratio of -24.90 and a beta of 0.90. ARS Pharmaceuticals has a 1-year low of $2.55 and a 1-year high of $16.50.

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 the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $0.50 million for the quarter, compared to the consensus estimate of $2.00 million. Equities research analysts forecast that ARS Pharmaceuticals will post -0.66 EPS for the current year.

Insiders Place Their Bets

In other ARS Pharmaceuticals news, insider Eric Karas sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the sale, the insider now owns 5,693 shares in the company, valued at $79,702. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Eric Karas sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $14.00, for a total transaction of $140,000.00. Following the completion of the transaction, the insider now directly owns 5,693 shares in the company, valued at $79,702. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter A. Thompson sold 83,695 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $13.00, for a total transaction of $1,088,035.00. The disclosure for this sale can be found here. Insiders have sold 933,395 shares of company stock worth $12,217,032 over the last ninety days. Corporate insiders own 40.10% of the company’s stock.

Institutional Inflows and Outflows

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