ARS Pharmaceuticals (NASDAQ:SPRY) Stock Price Up 4.3% – Should You Buy?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) rose 4.3% during mid-day trading on Monday . The stock traded as high as $16.69 and last traded at $16.68. Approximately 573,639 shares were traded during trading, a decline of 25% from the average daily volume of 763,015 shares. The stock had previously closed at $15.99.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Raymond James upgraded ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $18.00 to $22.00 in a research report on Tuesday, August 13th. Leerink Partners upped their target price on ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Cantor Fitzgerald restated an “overweight” rating and issued 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. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, ARS Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $24.00.

ARS Pharmaceuticals Trading Up 4.6 %

The business has a 50-day moving average price of $13.61 and a 200 day moving average price of $10.82. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -31.87 and a beta of 0.91.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The firm had revenue of $0.50 million during the quarter, compared to the consensus estimate of $2.00 million. On average, analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.66 earnings per share for the current year.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, COO Brian Dorsey sold 50,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $15.00, for a total transaction of $750,000.00. Following the sale, the chief operating officer now directly owns 6,024 shares of the company’s stock, valued at $90,360. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Brian Dorsey sold 50,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $15.00, for a total value of $750,000.00. Following the transaction, the chief operating officer now directly owns 6,024 shares of the company’s stock, valued at approximately $90,360. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eric Karas sold 10,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $14.00, for a total transaction of $140,000.00. Following the completion of the transaction, the insider now directly owns 5,693 shares in the company, valued at $79,702. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,055,895 shares of company stock valued at $14,619,032 in the last three months. 40.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of ARS Pharmaceuticals by 37.0% in the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock worth $29,500,000 after acquiring an additional 779,969 shares during the last quarter. ClariVest Asset Management LLC acquired a new position in shares of ARS Pharmaceuticals in the first quarter worth $2,790,000. SG Americas Securities LLC increased its stake in shares of ARS Pharmaceuticals by 861.5% in the second quarter. SG Americas Securities LLC now owns 111,592 shares of the company’s stock worth $950,000 after acquiring an additional 99,986 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of ARS Pharmaceuticals by 11.7% in the first quarter. GSA Capital Partners LLP now owns 128,889 shares of the company’s stock worth $1,317,000 after acquiring an additional 13,545 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in ARS Pharmaceuticals by 99.3% in the second quarter. Bank of New York Mellon Corp now owns 139,285 shares of the company’s stock worth $1,185,000 after purchasing an additional 69,394 shares in the last quarter. 68.16% of the stock is owned by institutional investors and hedge funds.

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.