ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Given Consensus Rating of “Buy” by Brokerages

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has been assigned an average recommendation of “Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $24.00.

Several analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Raymond James raised shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $18.00 to $22.00 in a report on Tuesday, August 13th. Leerink Partners boosted their price target 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. Finally, William Blair upgraded shares of ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th.

ARS Pharmaceuticals Price Performance

SPRY opened at $16.14 on Friday. The company has a market capitalization of $1.56 billion, a P/E ratio of -34.34 and a beta of 0.90. The firm’s fifty day moving average price is $14.22 and its two-hundred day moving average price is $11.41. ARS Pharmaceuticals has a fifty-two week low of $3.38 and a fifty-two week high of $17.08.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its 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 company had revenue of $0.50 million for the quarter, compared to analyst estimates of $2.00 million. On average, equities research analysts expect that ARS Pharmaceuticals will post -0.66 EPS for the current fiscal year.

Insider Transactions at ARS Pharmaceuticals

In related news, CEO Richard E. Lowenthal sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $12.93, for a total value of $1,293,000.00. Following the completion of the transaction, the chief executive officer now owns 1,398,499 shares in the company, valued at $18,082,592.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Peter A. Thompson sold 407,700 shares of ARS Pharmaceuticals stock in a transaction that occurred on 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 sale, the director now owns 544,677 shares in the company, valued at $7,385,820.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard E. Lowenthal sold 100,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $12.93, for a total transaction of $1,293,000.00. Following the sale, the chief executive officer now owns 1,398,499 shares of the company’s stock, valued at $18,082,592.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,055,895 shares of company stock worth $14,619,032. Corporate insiders own 40.10% of the company’s stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several large investors have recently bought and sold shares of SPRY. Vanguard Group Inc. boosted its holdings in shares of ARS Pharmaceuticals by 37.0% in the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock valued at $29,500,000 after buying an additional 779,969 shares during the period. ClariVest Asset Management LLC acquired a new position in ARS Pharmaceuticals in the 1st quarter worth $2,790,000. SG Americas Securities LLC increased its holdings in ARS Pharmaceuticals by 861.5% during the 2nd quarter. SG Americas Securities LLC now owns 111,592 shares of the company’s stock worth $950,000 after purchasing an additional 99,986 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of ARS Pharmaceuticals by 11.7% in the 1st quarter. GSA Capital Partners LLP now owns 128,889 shares of the company’s stock valued at $1,317,000 after purchasing an additional 13,545 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of ARS Pharmaceuticals in the third quarter valued at about $2,584,000. Institutional investors own 68.16% of the company’s stock.

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.