ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives Average Rating of “Buy” from Analysts

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have been assigned an average recommendation of “Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. Four research 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 brokers that have covered the stock in the last year is $24.00.

SPRY has been the topic of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. William Blair upgraded shares of ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Leerink Partners boosted their price target on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Raymond James raised shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $18.00 to $22.00 in a research note on Tuesday, August 13th.

Insider Transactions at ARS Pharmaceuticals

In related news, insider Sarina Tanimoto sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $14.88, for a total transaction of $1,488,000.00. Following the transaction, the insider now directly owns 1,298,499 shares of the company’s stock, valued at approximately $19,321,665.12. This trade represents a 7.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Justin Chakma sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $14.39, for a total transaction of $359,750.00. Following the completion of the sale, the insider now directly owns 136,380 shares of the company’s stock, valued at $1,962,508.20. This represents a 15.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 908,770 shares of company stock worth $14,856,492. 40.10% of the stock is owned by insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in SPRY. nVerses Capital LLC bought a new position in ARS Pharmaceuticals during the 3rd quarter worth $30,000. Russell Investments Group Ltd. acquired a new stake in shares of ARS Pharmaceuticals during the 1st quarter worth $60,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ARS Pharmaceuticals by 151.7% in 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 period. Principal Financial Group Inc. acquired a new position in ARS Pharmaceuticals in the second quarter valued at about $87,000. Finally, J.W. Cole Advisors Inc. grew its stake in ARS Pharmaceuticals by 10.8% during the second quarter. J.W. Cole Advisors Inc. now owns 15,400 shares of the company’s stock worth $131,000 after buying an additional 1,500 shares in the last quarter. 68.16% of the stock is currently owned by institutional investors and hedge funds.

ARS Pharmaceuticals Price Performance

Shares of ARS Pharmaceuticals stock opened at $14.53 on Thursday. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -28.49 and a beta of 0.90. ARS Pharmaceuticals has a 52-week low of $4.65 and a 52-week high of $18.51. The stock has a 50-day simple moving average of $14.82 and a 200-day simple moving average of $11.97.

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.