Brokerages Set ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Price Target at $29.00

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has received an average rating of “Buy” from the six brokerages that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $31.00.

Several equities analysts have recently weighed in on the stock. William Blair reissued an “outperform” rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Oppenheimer started coverage on shares of ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an “outperform” rating and a $40.00 target price on the stock. Scotiabank assumed coverage on ARS Pharmaceuticals in a report on Friday, March 7th. They set a “sector outperform” rating and a $30.00 target price on the stock. Raymond James increased their price target on ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 14th. Finally, Leerink Partners boosted their price objective on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th.

ARS Pharmaceuticals Stock Performance

Shares of SPRY stock opened at $12.31 on Friday. ARS Pharmaceuticals has a fifty-two week low of $7.55 and a fifty-two week high of $18.51. The stock’s fifty day moving average is $11.93 and its two-hundred day moving average is $13.09. The firm has a market capitalization of $1.20 billion, a P/E ratio of -24.14 and a beta of 1.04.

Insider Activity at ARS Pharmaceuticals

In related news, insider Sarina Tanimoto sold 100,000 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $11.67, for a total transaction of $1,167,000.00. Following the transaction, the insider now owns 1,098,499 shares of the company’s stock, valued at approximately $12,819,483.33. This represents a 8.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Laura Shawver sold 50,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.31, for a total transaction of $615,500.00. Following the sale, the director now directly owns 210,346 shares in the company, valued at $2,589,359.26. This represents a 19.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 276,872 shares of company stock worth $3,222,416. Insiders own 40.10% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Bernard Wealth Management Corp. acquired a new stake in ARS Pharmaceuticals in the fourth quarter valued at approximately $27,000. KLP Kapitalforvaltning AS purchased a new stake in shares of ARS Pharmaceuticals in the 4th quarter valued at approximately $73,000. BNP Paribas Financial Markets acquired a new stake in shares of ARS Pharmaceuticals in the 4th quarter valued at $75,000. Ball & Co Wealth Management Inc. purchased a new stake in shares of ARS Pharmaceuticals during the 4th quarter worth $105,000. Finally, Compass Capital Corp MA ADV acquired a new position in shares of ARS Pharmaceuticals during the fourth quarter worth $106,000. 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.