ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Richard E. Lowenthal Sells 100,000 Shares

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Richard E. Lowenthal sold 100,000 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $13.83, for a total transaction of $1,383,000.00. Following the transaction, the chief executive officer now directly owns 1,346,494 shares in the company, valued at approximately $18,622,012.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

ARS Pharmaceuticals Trading Up 4.4 %

SPRY opened at $14.52 on Friday. The stock’s 50-day moving average price is $13.02 and its 200 day moving average price is $10.61. ARS Pharmaceuticals, Inc. has a 12-month low of $3.35 and a 12-month high of $16.50. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -27.92 and a beta of 0.91.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share (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 forecast that ARS Pharmaceuticals, Inc. will post -0.66 earnings per share for the current year.

Institutional Investors Weigh In On ARS Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. purchased a new stake in shares of ARS Pharmaceuticals during the first quarter worth $60,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in 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 purchasing an additional 4,472 shares during the period. Principal Financial Group Inc. acquired a new stake in ARS Pharmaceuticals in the 2nd quarter valued at about $87,000. Paloma Partners Management Co purchased a new position in shares of ARS Pharmaceuticals in the 1st quarter valued at about $103,000. Finally, SG Americas Securities LLC acquired a new position in shares of ARS Pharmaceuticals during the first quarter worth about $119,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPRY has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price target on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $18.00 to $22.00 in a research note on Tuesday, August 13th. William Blair raised ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Leerink Partners upped their target price on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, ARS Pharmaceuticals has a consensus rating of “Buy” and an average price target of $24.00.

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.