ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives $26.00 Average PT from Analysts

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have earned an average recommendation of “Buy” from the six research firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $26.00.

Several analysts have recently commented on SPRY shares. Raymond James raised their target price on ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Finally, Leerink Partners raised their price target on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, January 13th.

Insider Activity

In other ARS Pharmaceuticals news, major shareholder James E. Flynn sold 528,456 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $18.04, for a total transaction of $9,533,346.24. Following the transaction, the insider now directly owns 5,274,735 shares in the company, valued at $95,156,219.40. This trade represents a 9.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian Dorsey sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $12.30, for a total value of $307,500.00. Following the sale, the chief operating officer now owns 6,024 shares of the company’s stock, valued at approximately $74,095.20. This trade represents a 80.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,095,558 shares of company stock worth $16,853,686 in the last three months. 40.10% of the stock is owned by insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC raised its position in shares of ARS Pharmaceuticals by 189.7% in the third quarter. Barclays PLC now owns 111,666 shares of the company’s stock valued at $1,618,000 after purchasing an additional 73,127 shares during the period. First Turn Management LLC acquired a new position in ARS Pharmaceuticals during the 3rd quarter worth $8,603,000. Royce & Associates LP boosted its holdings in ARS Pharmaceuticals by 7.1% during the third quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock valued at $10,026,000 after acquiring an additional 45,755 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of ARS Pharmaceuticals in the third quarter valued at about $2,584,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of ARS Pharmaceuticals by 766.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 234,537 shares of the company’s stock worth $3,401,000 after purchasing an additional 207,456 shares during the period. 68.16% of the stock is currently owned by institutional investors and hedge funds.

ARS Pharmaceuticals Stock Performance

Shares of NASDAQ:SPRY opened at $13.48 on Friday. The firm has a 50 day simple moving average of $12.47 and a 200 day simple moving average of $12.92. ARS Pharmaceuticals has a 52 week low of $6.04 and a 52 week high of $18.51. The company has a market cap of $1.31 billion, a PE ratio of -26.43 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.