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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has been given an average recommendation of “Buy” by the six research firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $24.00.

Several analysts have recently weighed in on SPRY shares. William Blair raised shares of ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $18.00 to $22.00 in a research note on Tuesday, August 13th. Finally, Leerink Partners raised their price target on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, September 20th.

ARS Pharmaceuticals Price Performance

Shares of NASDAQ SPRY opened at $14.53 on Thursday. The stock has a fifty day moving average price of $14.82 and a 200 day moving average price of $11.97. ARS Pharmaceuticals has a 1-year low of $4.65 and a 1-year high of $18.51. The company has a market cap of $1.41 billion, a PE ratio of -28.49 and a beta of 0.90.

Insider Buying and Selling

In other ARS Pharmaceuticals news, insider Eric Karas sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the sale, the insider now directly owns 5,693 shares of the company’s stock, valued at approximately $79,702. This trade represents a 63.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard E. Lowenthal sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $12.93, for a total transaction of $1,293,000.00. Following the completion of the sale, the chief executive officer now owns 1,398,499 shares of the company’s stock, valued at approximately $18,082,592.07. The trade was a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 908,770 shares of company stock worth $14,856,492 in the last ninety days. Insiders own 40.10% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of ARS Pharmaceuticals by 37.0% during the 1st quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock worth $29,500,000 after purchasing an additional 779,969 shares during the period. State Street Corp increased its stake in ARS Pharmaceuticals by 10.4% during the 3rd quarter. State Street Corp now owns 2,049,542 shares of the company’s stock valued at $29,718,000 after buying an additional 193,321 shares during the period. Geode Capital Management LLC lifted its position in ARS Pharmaceuticals by 3.3% in the third quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company’s stock worth $17,909,000 after purchasing an additional 38,927 shares during the period. Royce & Associates LP boosted its stake in ARS Pharmaceuticals by 7.1% during the third quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock valued at $10,026,000 after buying an additional 45,755 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of ARS Pharmaceuticals by 78.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company’s stock worth $9,469,000 after purchasing an additional 288,021 shares during the last quarter. 68.16% of the stock is currently owned by institutional investors and hedge funds.

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.