Brokerages Set ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Price Target at $24.00

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has earned an average rating of “Buy” from the six research firms that are currently covering the firm, Marketbeat 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 12 month target price among brokerages that have updated their coverage on the stock in the last year is $24.00.

SPRY has been the topic of several recent research reports. William Blair raised shares of ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Leerink Partners increased their price target on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $18.00 to $22.00 in a report on Tuesday, August 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th.

ARS Pharmaceuticals Trading Down 0.1 %

NASDAQ:SPRY opened at $14.51 on Thursday. ARS Pharmaceuticals has a 12-month low of $4.76 and a 12-month high of $18.51. The stock’s 50 day simple moving average is $14.82 and its 200-day simple moving average is $12.05. The firm has a market cap of $1.41 billion, a P/E ratio of -28.45 and a beta of 0.90.

Insiders Place Their Bets

In other ARS Pharmaceuticals news, insider Justin Chakma sold 25,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $14.39, for a total transaction of $359,750.00. Following the completion of the transaction, the insider now owns 136,380 shares of the company’s stock, valued at approximately $1,962,508.20. This trade represents a 15.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder James E. Flynn sold 528,456 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $18.04, for a total value of $9,533,346.24. Following the sale, the insider now directly owns 5,274,735 shares in the company, valued at approximately $95,156,219.40. The trade was a 9.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 908,770 shares of company stock worth $14,856,492. 40.10% of the stock is owned by corporate insiders.

Institutional Trading of ARS Pharmaceuticals

A number of hedge funds have recently bought and sold shares of SPRY. nVerses Capital LLC acquired a new position in ARS Pharmaceuticals in the 3rd quarter valued at $30,000. Russell Investments Group Ltd. acquired a new position in ARS Pharmaceuticals in the first quarter valued at $60,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in ARS Pharmaceuticals by 151.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock worth $63,000 after buying an additional 4,472 shares during the period. Principal Financial Group Inc. acquired a new stake in ARS Pharmaceuticals in the 2nd quarter worth about $87,000. Finally, J.W. Cole Advisors Inc. boosted its stake in ARS Pharmaceuticals by 10.8% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 15,400 shares of the company’s stock worth $131,000 after buying an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 68.16% of the company’s stock.

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.