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

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have been given a consensus recommendation of “Buy” by the six research firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $24.00.

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

Insider Transactions at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Eric Karas sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the sale, the insider now owns 5,693 shares in the company, valued at $79,702. This represents a 63.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Richard E. Lowenthal sold 100,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 1,398,499 shares in the company, valued at $18,082,592.07. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 908,770 shares of company stock worth $14,856,492 in the last quarter. Company insiders own 40.10% of the company’s stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in shares of ARS Pharmaceuticals in the first quarter worth approximately $60,000. Vanguard Group Inc. raised its holdings in ARS Pharmaceuticals by 37.0% during the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock valued at $29,500,000 after acquiring an additional 779,969 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of ARS Pharmaceuticals in the first quarter valued at about $172,000. Jacobs Levy Equity Management Inc. lifted its position in shares of ARS Pharmaceuticals by 1,280.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 277,706 shares of the company’s stock valued at $2,838,000 after acquiring an additional 257,589 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of ARS Pharmaceuticals in the first quarter worth about $206,000. Institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Price Performance

SPRY stock opened at $14.53 on Thursday. The stock has a market capitalization of $1.41 billion, a P/E ratio of -28.49 and a beta of 0.90. ARS Pharmaceuticals has a 1-year low of $4.65 and a 1-year high of $18.51. The business has a fifty day moving average price of $14.82 and a 200-day moving average price of $11.97.

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.