ARS Pharmaceuticals (NASDAQ:SPRY) Price Target Raised to $27.00 at Leerink Partners

ARS Pharmaceuticals (NASDAQ:SPRY) had its price target lifted by investment analysts at Leerink Partners from $26.00 to $27.00 in a report released on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Leerink Partners’ target price would suggest a potential upside of 137.68% from the stock’s previous close.

Separately, Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $26.00.

ARS Pharmaceuticals Trading Up 0.9 %

Shares of SPRY opened at $11.36 on Monday. The firm’s fifty day simple moving average is $12.95 and its two-hundred day simple moving average is $12.78. ARS Pharmaceuticals has a 12 month low of $5.75 and a 12 month high of $18.51. The stock has a market capitalization of $1.10 billion, a P/E ratio of -22.27 and a beta of 0.96.

Insiders Place Their Bets

In other news, insider Justin Chakma sold 32,814 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $14.00, for a total value of $459,396.00. Following the completion of the sale, the insider now owns 203,566 shares in the company, valued at $2,849,924. This represents a 13.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder James E. Flynn sold 528,456 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $18.04, for a total transaction of $9,533,346.24. Following the transaction, the insider now directly owns 5,274,735 shares in the company, valued at $95,156,219.40. The trade was a 9.11 % decrease in their ownership of the stock. 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. Corporate insiders own 40.10% of the company’s stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPRY. First Turn Management LLC purchased a new position in shares of ARS Pharmaceuticals in the 3rd quarter worth approximately $8,603,000. Jacobs Levy Equity Management Inc. lifted its holdings in ARS Pharmaceuticals by 78.9% during the third 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. Miura Global Management LLC purchased a new position in ARS Pharmaceuticals in the third quarter worth $3,915,000. Wexford Capital LP bought a new position in ARS Pharmaceuticals in the 3rd quarter valued at $3,601,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of ARS Pharmaceuticals by 766.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 234,537 shares of the company’s stock valued at $3,401,000 after purchasing an additional 207,456 shares during the last quarter. 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.