ARS Pharmaceuticals (NASDAQ:SPRY) Shares Gap Down to $13.30

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) shares gapped down before the market opened on Tuesday . The stock had previously closed at $13.30, but opened at $12.98. ARS Pharmaceuticals shares last traded at $12.95, with a volume of 81,271 shares traded.

Analysts Set New Price Targets

SPRY has been the topic of a number of analyst reports. Raymond James upgraded ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $18.00 to $22.00 in a report on Tuesday, August 13th. Leerink Partners upped their target price on shares of ARS Pharmaceuticals from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price objective on shares of ARS Pharmaceuticals in a research note on Monday. Finally, William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Four research 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 currently has an average rating of “Buy” and a consensus target price of $22.75.

ARS Pharmaceuticals Stock Performance

The business’s 50 day moving average price is $11.81 and its 200-day moving average price is $9.94. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -27.02 and a beta of 0.90.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) earnings per share (EPS) 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 analysts’ expectations of $2.00 million. On average, analysts forecast that ARS Pharmaceuticals, Inc. will post -0.66 earnings per share for the current fiscal year.

Insider Activity at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Sarina Tanimoto sold 100,000 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $9.62, for a total transaction of $962,000.00. Following the completion of the sale, the insider now owns 1,496,494 shares in the company, valued at $14,396,272.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Sarina Tanimoto sold 100,000 shares of the stock in a transaction that occurred on 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 directly owns 1,496,494 shares in the company, valued at approximately $14,396,272.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian Dorsey sold 50,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $15.00, for a total value of $750,000.00. Following the transaction, the chief operating officer now owns 6,024 shares of the company’s stock, valued at $90,360. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 933,395 shares of company stock valued at $12,217,032. Corporate insiders own 40.10% of the company’s stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in ARS Pharmaceuticals in the 1st quarter worth approximately $60,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in ARS Pharmaceuticals by 151.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock worth $63,000 after acquiring an additional 4,472 shares during the period. Principal Financial Group Inc. bought a new position in shares of ARS Pharmaceuticals in the second quarter worth $87,000. Paloma Partners Management Co acquired a new position in shares of ARS Pharmaceuticals during the first quarter valued at $103,000. Finally, SG Americas Securities LLC bought a new stake in shares of ARS Pharmaceuticals during the first quarter valued at about $119,000. Institutional investors and hedge funds 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.