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

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have received a consensus recommendation of “Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Four 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 brokers that have updated their coverage on the stock in the last year is $24.00.

SPRY has been the topic of a number of recent analyst reports. William Blair raised shares of ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Raymond James upgraded ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $18.00 to $22.00 in a research report on Tuesday, August 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price target on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. Finally, Leerink Partners boosted their price target on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th.

Insider Activity

In other news, major shareholder James E. Flynn sold 528,456 shares of the business’s stock in a transaction on 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 sale, the insider now owns 5,274,735 shares in the company, valued at approximately $95,156,219.40. The trade was a 9.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eric Karas sold 10,000 shares of the 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 transaction, the insider now owns 5,693 shares of the company’s stock, valued at approximately $79,702. The trade was a 63.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 908,770 shares of company stock valued at $14,856,492. Corporate insiders own 40.10% of the company’s stock.

Hedge Funds Weigh In On ARS Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC grew its stake in shares of ARS Pharmaceuticals by 189.7% in the 3rd quarter. Barclays PLC now owns 111,666 shares of the company’s stock worth $1,618,000 after buying an additional 73,127 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of 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 acquiring an additional 38,927 shares during the last quarter. XTX Topco Ltd bought a new position in shares of ARS Pharmaceuticals during the third quarter valued at $250,000. Wellington Management Group LLP raised its position in shares of ARS Pharmaceuticals by 38.9% in the 3rd quarter. Wellington Management Group LLP now owns 162,335 shares of the company’s stock worth $2,354,000 after purchasing an additional 45,452 shares during the last quarter. Finally, Wexford Capital LP bought a new position in ARS Pharmaceuticals in the 3rd quarter worth about $3,601,000. Institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Stock Up 1.1 %

ARS Pharmaceuticals stock opened at $14.53 on Thursday. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -28.49 and a beta of 0.90. The business has a 50-day simple moving average of $14.82 and a 200 day simple moving average of $11.97. ARS Pharmaceuticals has a 52 week low of $4.65 and a 52 week high of $18.51.

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.