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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has earned an average recommendation of “Buy” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a buy rating and two have assigned 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 $24.00.

A number of equities research analysts have recently weighed in on SPRY shares. Leerink Partners boosted their target price on ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price objective on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th.

ARS Pharmaceuticals Price Performance

Shares of ARS Pharmaceuticals stock opened at $10.79 on Monday. The firm has a 50 day simple moving average of $13.91 and a 200 day simple moving average of $12.53. ARS Pharmaceuticals has a fifty-two week low of $5.19 and a fifty-two week high of $18.51. The firm has a market cap of $1.05 billion, a P/E ratio of -21.16 and a beta of 0.88.

Insider Activity at ARS Pharmaceuticals

In other news, CFO Kathleen D. Scott sold 12,500 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $16.00, for a total value of $200,000.00. Following the completion of the transaction, the chief financial officer now owns 4,949 shares of the company’s stock, valued at $79,184. The trade was a 71.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder James E. Flynn sold 528,456 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $18.04, for a total value of $9,533,346.24. Following the sale, the insider now directly owns 5,274,735 shares in the company, valued at $95,156,219.40. The trade was a 9.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,258,058 shares of company stock worth $19,369,686. 40.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new position in shares of ARS Pharmaceuticals during the 3rd quarter valued at about $30,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in ARS Pharmaceuticals by 151.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock valued at $63,000 after buying an additional 4,472 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of ARS Pharmaceuticals in the second quarter valued at approximately $87,000. J.W. Cole Advisors Inc. increased its position in shares of ARS Pharmaceuticals by 10.8% during the second quarter. J.W. Cole Advisors Inc. now owns 15,400 shares of the company’s stock worth $131,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of ARS Pharmaceuticals during the third quarter worth $174,000. 68.16% of the stock is owned by institutional investors and hedge funds.

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.