ARS Pharmaceuticals (NASDAQ:SPRY) PT Raised to $25.00

ARS Pharmaceuticals (NASDAQ:SPRY) had its price target increased by stock analysts at Leerink Partners from $21.00 to $25.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Leerink Partners’ price objective suggests a potential upside of 68.46% from the company’s current price.

A number of other research analysts have also recently weighed in on SPRY. Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $18.00 to $22.00 in a research report on Tuesday, August 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price objective on shares of ARS Pharmaceuticals in a research note on Monday. Finally, William Blair upgraded shares of ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $24.00.

ARS Pharmaceuticals Price Performance

Shares of SPRY traded down $0.02 during trading hours on Friday, hitting $14.84. The stock had a trading volume of 156,611 shares, compared to its average volume of 745,208. The firm has a market capitalization of $1.44 billion, a PE ratio of -28.44 and a beta of 0.90. ARS Pharmaceuticals has a 12 month low of $2.75 and a 12 month high of $16.50. The stock has a fifty day moving average price of $11.96 and a 200 day moving average price of $10.01.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its earnings results on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The business had revenue of $0.50 million for the quarter, compared to analyst estimates of $2.00 million. As a group, analysts anticipate that ARS Pharmaceuticals will post -0.66 EPS for the current fiscal year.

Insider Buying and Selling at ARS Pharmaceuticals

In related news, COO Brian Dorsey sold 50,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $15.00, for a total value of $750,000.00. Following the sale, the chief operating officer now directly owns 6,024 shares in the company, valued at $90,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other ARS Pharmaceuticals news, COO Brian Dorsey sold 50,000 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $15.00, for a total transaction of $750,000.00. Following the completion of the transaction, the chief operating officer now owns 6,024 shares in the company, valued at $90,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Karas sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $14.00, for a total transaction of $140,000.00. Following the completion of the sale, the insider now owns 5,693 shares in the company, valued at $79,702. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,043,395 shares of company stock worth $13,650,032. Insiders own 40.10% of the company’s stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several institutional investors have recently modified their holdings of SPRY. Vanguard Group Inc. boosted its stake in ARS Pharmaceuticals by 37.0% during the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock worth $29,500,000 after buying an additional 779,969 shares during the period. ClariVest Asset Management LLC purchased a new stake in ARS Pharmaceuticals in the 1st quarter worth about $2,790,000. SG Americas Securities LLC raised its position in ARS Pharmaceuticals by 861.5% in the 2nd quarter. SG Americas Securities LLC now owns 111,592 shares of the company’s stock worth $950,000 after purchasing an additional 99,986 shares during the period. GSA Capital Partners LLP lifted its stake in ARS Pharmaceuticals by 11.7% in the first quarter. GSA Capital Partners LLP now owns 128,889 shares of the company’s stock worth $1,317,000 after purchasing an additional 13,545 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of ARS Pharmaceuticals by 5.9% during the fourth quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock valued at $22,460,000 after buying an additional 229,988 shares during the period. 68.16% of the stock is owned by institutional investors.

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.