ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Given Average Recommendation of “Buy” by Analysts

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have been assigned a consensus recommendation of “Buy” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $28.80.

A number of research firms have recently commented on SPRY. Leerink Partners upped their target price on ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Raymond James upped their target price on ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 14th. Finally, Oppenheimer started coverage on shares of ARS Pharmaceuticals in a research note on Monday. They set an “outperform” rating and a $40.00 price objective on the stock.

Insider Buying and Selling at ARS Pharmaceuticals

In related news, insider Justin Chakma sold 25,000 shares of ARS Pharmaceuticals stock in a transaction dated Wednesday, November 27th. The stock was 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 owns 136,380 shares of the company’s stock, valued at $1,962,508.20. The trade was a 15.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sarina Tanimoto sold 100,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $13.16, for a total transaction of $1,316,000.00. Following the completion of the transaction, the insider now owns 1,148,499 shares in the company, valued at approximately $15,114,246.84. This trade represents a 8.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 617,102 shares of company stock worth $7,935,840. 40.10% of the stock is owned by insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of SPRY. Rhumbline Advisers lifted its holdings in ARS Pharmaceuticals by 2.9% in the fourth quarter. Rhumbline Advisers now owns 65,163 shares of the company’s stock valued at $687,000 after acquiring an additional 1,824 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of ARS Pharmaceuticals by 10.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company’s stock worth $217,000 after acquiring an additional 1,962 shares during the last quarter. nVerses Capital LLC acquired a new stake in ARS Pharmaceuticals during the 3rd quarter worth $30,000. Creative Planning grew its stake in ARS Pharmaceuticals by 7.0% during the 3rd quarter. Creative Planning now owns 35,263 shares of the company’s stock valued at $511,000 after acquiring an additional 2,307 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of ARS Pharmaceuticals by 4.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 80,641 shares of the company’s stock valued at $851,000 after purchasing an additional 3,433 shares during the last quarter. Institutional investors and hedge funds own 68.16% of the company’s stock.

ARS Pharmaceuticals Stock Performance

Shares of ARS Pharmaceuticals stock opened at $11.74 on Tuesday. The stock has a 50 day moving average price of $12.29 and a 200-day moving average price of $13.18. ARS Pharmaceuticals has a one year low of $6.70 and a one year high of $18.51. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -23.02 and a beta of 0.99.

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.