ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Given Consensus Rating of “Buy” by Brokerages

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has been given a consensus rating of “Buy” by the six ratings firms that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $24.00.

Several analysts have commented on the company. William Blair raised ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price target on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Finally, Leerink Partners upped their price objective on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th.

Insider Activity

In other ARS Pharmaceuticals news, CFO Kathleen D. Scott sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $16.00, for a total value of $200,000.00. Following the transaction, the chief financial officer now directly owns 4,949 shares of the company’s stock, valued at $79,184. This trade represents a 71.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder James E. Flynn sold 528,456 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 5,274,735 shares of the company’s stock, valued at $95,156,219.40. This trade represents a 9.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,258,058 shares of company stock worth $19,369,686 over the last quarter. 40.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. J.W. Cole Advisors Inc. boosted its holdings 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 valued at $131,000 after purchasing an additional 1,500 shares during the last quarter. nVerses Capital LLC acquired a new position in ARS Pharmaceuticals in the third quarter valued at approximately $30,000. Creative Planning grew its position in ARS Pharmaceuticals by 7.0% in the third quarter. Creative Planning now owns 35,263 shares of the company’s stock worth $511,000 after acquiring an additional 2,307 shares during the period. HighTower Advisors LLC increased its stake in ARS Pharmaceuticals by 18.2% during the third quarter. HighTower Advisors LLC now owns 28,310 shares of the company’s stock worth $411,000 after acquiring an additional 4,369 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in ARS Pharmaceuticals by 151.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock valued at $63,000 after purchasing an additional 4,472 shares during the period. Institutional investors and hedge funds own 68.16% of the company’s stock.

ARS Pharmaceuticals Stock Down 1.2 %

Shares of ARS Pharmaceuticals stock opened at $11.18 on Monday. The firm has a market cap of $1.09 billion, a PE ratio of -21.92 and a beta of 0.88. ARS Pharmaceuticals has a twelve month low of $5.02 and a twelve month high of $18.51. The business has a 50-day moving average price of $14.37 and a 200 day moving average price of $12.45.

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.