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

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have received a consensus recommendation of “Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $26.00.

SPRY has been the subject of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Raymond James raised their price objective 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. Finally, Leerink Partners boosted their price objective on ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, January 13th.

ARS Pharmaceuticals Price Performance

Shares of ARS Pharmaceuticals stock opened at $13.48 on Friday. The company has a market cap of $1.31 billion, a PE ratio of -26.43 and a beta of 0.96. The firm has a fifty day moving average price of $12.47 and a two-hundred day moving average price of $12.92. ARS Pharmaceuticals has a fifty-two week low of $6.04 and a fifty-two week high of $18.51.

Insider Buying and Selling

In other news, insider Justin Chakma sold 32,814 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $14.00, for a total value of $459,396.00. Following the completion of the sale, the insider now directly owns 203,566 shares in the company, valued at approximately $2,849,924. This trade represents a 13.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder James E. Flynn sold 528,456 shares of the company’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 owns 5,274,735 shares in the company, valued at approximately $95,156,219.40. This trade represents a 9.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,095,558 shares of company stock worth $16,853,686 in the last 90 days. 40.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in shares of ARS Pharmaceuticals by 10.4% during the third quarter. State Street Corp now owns 2,049,542 shares of the company’s stock valued at $29,718,000 after acquiring an additional 193,321 shares during the period. Geode Capital Management LLC raised its stake in shares of ARS Pharmaceuticals by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company’s stock worth $17,909,000 after buying an additional 38,927 shares during the last quarter. Royce & Associates LP lifted its holdings in ARS Pharmaceuticals by 7.1% in the third quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock valued at $10,026,000 after buying an additional 45,755 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in ARS Pharmaceuticals by 78.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company’s stock valued at $9,469,000 after acquiring an additional 288,021 shares during the last quarter. Finally, First Turn Management LLC acquired a new stake in ARS Pharmaceuticals during the 3rd quarter worth $8,603,000. Institutional investors and hedge funds own 68.16% of the company’s stock.

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.