ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives $24.00 Consensus PT from Analysts

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has been given a consensus rating of “Buy” by the six research firms that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $24.00.

Several research firms recently weighed in on SPRY. Leerink Partners increased their price target on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. William Blair upgraded shares of ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Finally, Raymond James raised shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $18.00 to $22.00 in a research report on Tuesday, August 13th.

ARS Pharmaceuticals Price Performance

Shares of NASDAQ SPRY opened at $14.51 on Thursday. The stock has a market capitalization of $1.41 billion, a P/E ratio of -28.45 and a beta of 0.90. ARS Pharmaceuticals has a 1-year low of $4.76 and a 1-year high of $18.51. The business’s 50 day moving average is $14.82 and its two-hundred day moving average is $12.05.

Insider Activity at ARS Pharmaceuticals

In other news, major shareholder James E. Flynn sold 528,456 shares of ARS Pharmaceuticals stock in a transaction on Monday, November 11th. The stock was sold at an average price of $18.04, for a total value of $9,533,346.24. Following the transaction, the insider now directly owns 5,274,735 shares in the company, valued at approximately $95,156,219.40. This trade represents a 9.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric Karas sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was 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 of the company’s stock, valued at $79,702. This trade represents a 63.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 908,770 shares of company stock worth $14,856,492 in the last 90 days. 40.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPRY. nVerses Capital LLC purchased a new stake in shares of ARS Pharmaceuticals during the third quarter valued at about $30,000. Russell Investments Group Ltd. purchased a new stake in ARS Pharmaceuticals during the first quarter valued at approximately $60,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in ARS Pharmaceuticals by 151.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock valued at $63,000 after acquiring an additional 4,472 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in ARS Pharmaceuticals in the second quarter valued at approximately $87,000. Finally, J.W. Cole Advisors Inc. grew its holdings in ARS Pharmaceuticals by 10.8% in the second quarter. J.W. Cole Advisors Inc. now owns 15,400 shares of the company’s stock worth $131,000 after purchasing an additional 1,500 shares during the last quarter. Hedge funds and other 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.