Brokerages Set ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) PT at $24.00

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

Several equities analysts recently weighed in on SPRY shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a research note on Tuesday. Leerink Partners lifted their target price on ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Raymond James upgraded ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $18.00 to $22.00 in a research report on Tuesday, August 13th. Finally, William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th.

ARS Pharmaceuticals Stock Up 4.4 %

NASDAQ:SPRY opened at $14.52 on Wednesday. The business’s 50-day simple moving average is $13.02 and its two-hundred day simple moving average is $10.60. ARS Pharmaceuticals has a 52 week low of $3.35 and a 52 week high of $16.50. The stock has a market cap of $1.41 billion, a PE ratio of -27.92 and a beta of 0.91.

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

Insiders Place Their Bets

In related news, insider Eric Karas sold 10,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the sale, the insider now directly owns 5,693 shares in the company, valued at $79,702. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other ARS Pharmaceuticals news, CEO Richard E. Lowenthal sold 100,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $11.40, for a total value of $1,140,000.00. Following the transaction, the chief executive officer now owns 1,547,447 shares of the company’s stock, valued at $17,640,895.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eric Karas sold 10,000 shares of the firm’s 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 completion of the transaction, the insider now directly owns 5,693 shares in the company, valued at $79,702. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,043,395 shares of company stock valued at $14,071,032 over the last ninety days. 40.10% of the stock is owned by insiders.

Institutional Trading of ARS Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in shares of ARS Pharmaceuticals during the 1st quarter worth $60,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ARS Pharmaceuticals by 151.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock worth $63,000 after buying an additional 4,472 shares during 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 during the 1st quarter worth approximately $103,000. Finally, SG Americas Securities LLC purchased a new stake in ARS Pharmaceuticals during the first quarter valued at approximately $119,000. 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.