Leerink Partners Raises ARS Pharmaceuticals (NASDAQ:SPRY) Price Target to $25.00

ARS Pharmaceuticals (NASDAQ:SPRY) had its price target hoisted by stock analysts at Leerink Partners from $21.00 to $25.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Leerink Partners’ target price would indicate a potential upside of 68.46% from the stock’s current price.

A number of other equities research analysts have also weighed in on SPRY. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a research report on Monday. William Blair raised shares of ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Raymond James upgraded shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and increased 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 issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $24.00.

ARS Pharmaceuticals Stock Down 0.1 %

SPRY stock traded down $0.02 during trading on Friday, hitting $14.84. The company had a trading volume of 156,611 shares, compared to its average volume of 745,208. ARS Pharmaceuticals has a 52-week low of $2.75 and a 52-week high of $16.50. The company has a 50 day simple moving average of $11.96 and a 200-day simple moving average of $10.01. The firm has a market capitalization of $1.44 billion, a P/E ratio of -28.44 and a beta of 0.90.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its earnings results on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The business had revenue of $0.50 million for the quarter, compared to analyst estimates of $2.00 million. Sell-side analysts forecast that ARS Pharmaceuticals will post -0.66 earnings per share for the current year.

Insider Buying and Selling at ARS Pharmaceuticals

In related news, CFO Kathleen D. Scott sold 12,500 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $16.00, for a total transaction of $200,000.00. Following the completion of the sale, the chief financial officer now owns 13,199 shares of the company’s stock, valued at $211,184. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Sarina Tanimoto sold 100,000 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $9.62, for a total transaction of $962,000.00. Following the sale, the insider now owns 1,496,494 shares in the company, valued at $14,396,272.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kathleen D. Scott sold 12,500 shares of ARS Pharmaceuticals stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $16.00, for a total transaction of $200,000.00. Following the completion of the sale, the chief financial officer now owns 13,199 shares of the company’s stock, valued at $211,184. The disclosure for this sale can be found here. Insiders have sold 1,043,395 shares of company stock worth $13,650,032 over the last quarter. Insiders own 40.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SPRY. Russell Investments Group Ltd. acquired a new position in ARS Pharmaceuticals in the 1st quarter worth approximately $60,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ARS Pharmaceuticals by 151.7% during the second 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 last quarter. Paloma Partners Management Co acquired a new position in ARS Pharmaceuticals during the first quarter valued at $103,000. Principal Financial Group Inc. purchased a new stake in ARS Pharmaceuticals in the second quarter valued at $87,000. Finally, SG Americas Securities LLC purchased a new stake in ARS Pharmaceuticals in the first quarter valued at $119,000. Hedge funds and other institutional investors 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.