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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has received an average rating of “Buy” from the six analysts that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $26.00.

A number of equities analysts have recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price objective on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. Raymond James boosted their price target on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a report on Tuesday. Finally, Leerink Partners raised their price objective on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Monday.

Insider Activity at ARS Pharmaceuticals

In related news, Director Laura Shawver sold 50,000 shares of ARS Pharmaceuticals stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.10, for a total transaction of $555,000.00. Following the sale, the director now directly owns 210,346 shares in the company, valued at $2,334,840.60. This trade represents a 19.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder James E. Flynn sold 528,456 shares of the company’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 completion of the transaction, the insider now owns 5,274,735 shares of the company’s stock, valued at $95,156,219.40. This represents a 9.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,095,558 shares of company stock valued at $16,853,686 over the last three months. 40.10% of the stock is owned by corporate insiders.

Institutional Trading of ARS Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. nVerses Capital LLC purchased a new position in ARS Pharmaceuticals during the 3rd quarter worth approximately $30,000. J.W. Cole Advisors Inc. boosted its holdings in shares of ARS Pharmaceuticals by 10.8% in the second quarter. J.W. Cole Advisors Inc. now owns 15,400 shares of the company’s stock valued at $131,000 after acquiring an additional 1,500 shares during the period. Quarry LP acquired a new position in shares of ARS Pharmaceuticals in the 3rd quarter valued at $174,000. TFG Advisers LLC purchased a new stake in ARS Pharmaceuticals in the 3rd quarter valued at $180,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in ARS Pharmaceuticals during the 2nd quarter worth $180,000. Institutional investors and hedge funds own 68.16% of the company’s stock.

ARS Pharmaceuticals Price Performance

SPRY opened at $12.18 on Friday. The business has a fifty day moving average price of $12.80 and a 200 day moving average price of $12.79. ARS Pharmaceuticals has a 12 month low of $5.81 and a 12 month high of $18.51. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -23.88 and a beta of 0.96.

About ARS Pharmaceuticals

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.