ARS Pharmaceuticals (NASDAQ:SPRY) Stock Price Up 7.6% Following Analyst Upgrade

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) shot up 7.6% during mid-day trading on Monday after Raymond James raised their price target on the stock from $26.00 to $28.00. Raymond James currently has a strong-buy rating on the stock. ARS Pharmaceuticals traded as high as $12.09 and last traded at $12.09. 166,253 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,115,667 shares. The stock had previously closed at $11.24.

SPRY has been the subject of several other reports. Leerink Partners lifted their target price on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price objective on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $26.00.

Insider Transactions at ARS Pharmaceuticals

In related news, major shareholder James E. Flynn sold 528,456 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 5,274,735 shares in the company, valued at approximately $95,156,219.40. The trade was a 9.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Laura Shawver sold 50,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.10, for a total value of $555,000.00. Following the transaction, the director now owns 210,346 shares in the company, valued at approximately $2,334,840.60. This trade represents a 19.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,095,558 shares of company stock worth $16,853,686. Company insiders own 40.10% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

A number of institutional investors have recently modified their holdings of SPRY. State Street Corp raised its stake in ARS Pharmaceuticals by 10.4% in the third quarter. State Street Corp now owns 2,049,542 shares of the company’s stock valued at $29,718,000 after purchasing an additional 193,321 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ARS Pharmaceuticals by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company’s stock valued at $17,909,000 after buying an additional 38,927 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of ARS Pharmaceuticals by 7.1% during the 3rd quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock worth $10,026,000 after acquiring an additional 45,755 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of ARS Pharmaceuticals by 78.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company’s stock worth $9,469,000 after acquiring an additional 288,021 shares during the period. Finally, First Turn Management LLC acquired a new stake in shares of ARS Pharmaceuticals during the 3rd quarter worth approximately $8,603,000. 68.16% of the stock is currently owned by institutional investors.

ARS Pharmaceuticals Stock Up 0.9 %

The business’s 50 day moving average is $12.95 and its 200-day moving average is $12.78. The firm has a market capitalization of $1.10 billion, a P/E ratio of -22.27 and a beta of 0.96.

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.