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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has been given a consensus rating of “Buy” by the six analysts that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $24.00.

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

Insider Activity

In other ARS Pharmaceuticals news, CEO Richard E. Lowenthal sold 100,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $12.93, for a total value of $1,293,000.00. Following the transaction, the chief executive officer now owns 1,398,499 shares in the company, valued at approximately $18,082,592.07. This trade represents a 6.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Laura Shawver sold 14,772 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $13.75, for a total value of $203,115.00. Following the completion of the transaction, the director now owns 210,346 shares in the company, valued at $2,892,257.50. The trade was a 6.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,065,786 shares of company stock worth $16,971,786 in the last quarter. Corporate insiders own 40.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPRY. nVerses Capital LLC purchased a new position in shares of ARS Pharmaceuticals during the 3rd quarter worth $30,000. Russell Investments Group Ltd. purchased a new position in shares of ARS Pharmaceuticals during the 1st quarter worth $60,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ARS Pharmaceuticals by 151.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock worth $63,000 after acquiring an additional 4,472 shares during the period. Principal Financial Group Inc. purchased a new position in shares of ARS Pharmaceuticals during the 2nd quarter worth $87,000. Finally, Quarry LP purchased a new position in shares of ARS Pharmaceuticals during the 3rd quarter worth $174,000. Hedge funds and other institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Stock Up 6.0 %

Shares of ARS Pharmaceuticals stock opened at $14.42 on Thursday. The firm has a market capitalization of $1.40 billion, a P/E ratio of -26.69 and a beta of 0.88. The company has a 50 day moving average price of $14.80 and a 200 day moving average price of $12.15. ARS Pharmaceuticals has a 52 week low of $5.01 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.