Brokerages Set ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Price Target at $22.75

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have received an average rating of “Buy” from the six analysts that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $22.75.

Several equities analysts have commented on the stock. Raymond James raised shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $18.00 to $22.00 in a research note on Tuesday, August 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price objective on shares of ARS Pharmaceuticals in a research note on Monday. William Blair upgraded shares of ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Leerink Partners increased their price objective 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.

Insider Transactions at ARS Pharmaceuticals

In other news, Director Peter A. Thompson sold 83,695 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $13.00, for a total value of $1,088,035.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other ARS Pharmaceuticals news, Director Peter A. Thompson sold 83,695 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $13.00, for a total transaction of $1,088,035.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Eric Karas sold 10,000 shares of the 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 sale, the insider now directly owns 5,693 shares in the company, valued at approximately $79,702. The disclosure for this sale can be found here. In the last quarter, insiders have sold 933,395 shares of company stock valued at $12,217,032. 40.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. acquired a new stake in shares of ARS Pharmaceuticals in the 1st quarter valued at approximately $60,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ARS Pharmaceuticals by 151.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock worth $63,000 after acquiring an additional 4,472 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of ARS Pharmaceuticals during the 2nd quarter worth approximately $87,000. Paloma Partners Management Co bought a new position in shares of ARS Pharmaceuticals in the first quarter valued at $103,000. Finally, SG Americas Securities LLC bought a new position in shares of ARS Pharmaceuticals in the first quarter valued at $119,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

ARS Pharmaceuticals Stock Performance

SPRY stock opened at $12.95 on Friday. ARS Pharmaceuticals has a one year low of $2.55 and a one year high of $16.50. The company has a market capitalization of $1.25 billion, a PE ratio of -24.90 and a beta of 0.90. The company’s 50 day moving average price is $11.75 and its two-hundred day moving average price is $9.91.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) EPS 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 analyst estimates of $2.00 million. On average, research analysts predict that ARS Pharmaceuticals will post -0.66 EPS for the current year.

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.