Intech Investment Management LLC Acquires 14,051 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Intech Investment Management LLC grew its holdings in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 85.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 30,545 shares of the company’s stock after purchasing an additional 14,051 shares during the period. Intech Investment Management LLC’s holdings in ARS Pharmaceuticals were worth $322,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SPRY. Raymond James Financial Inc. bought a new position in ARS Pharmaceuticals during the 4th quarter worth $6,576,000. Peregrine Capital Management LLC acquired a new stake in shares of ARS Pharmaceuticals in the fourth quarter valued at about $4,469,000. Jacobs Levy Equity Management Inc. raised its position in shares of ARS Pharmaceuticals by 78.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company’s stock worth $9,469,000 after acquiring an additional 288,021 shares during the last quarter. Miura Global Management LLC acquired a new position in shares of ARS Pharmaceuticals in the third quarter worth approximately $3,915,000. Finally, Wexford Capital LP bought a new stake in ARS Pharmaceuticals in the third quarter valued at approximately $3,601,000. Institutional investors and hedge funds own 68.16% of the company’s stock.

Insider Buying and Selling

In other ARS Pharmaceuticals news, Director Laura Shawver sold 50,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.10, for a total transaction of $555,000.00. Following the transaction, the director now owns 210,346 shares in the company, valued at approximately $2,334,840.60. This represents a 19.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $14.00, for a total transaction of $140,000.00. Following the transaction, the insider now owns 7,696 shares of the company’s stock, valued at $107,744. This represents a 56.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 159,600 shares of company stock worth $1,866,516 in the last ninety days. Corporate insiders own 40.10% of the company’s stock.

ARS Pharmaceuticals Trading Up 2.0 %

Shares of NASDAQ SPRY opened at $13.15 on Wednesday. The firm has a market capitalization of $1.28 billion, a P/E ratio of -25.78 and a beta of 1.03. The firm’s 50-day moving average price is $12.13 and its 200-day moving average price is $13.07. ARS Pharmaceuticals, Inc. has a 1-year low of $7.55 and a 1-year high of $18.51.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings results on Thursday, March 20th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.56. The firm had revenue of $86.58 million for the quarter, compared to analyst estimates of $15.46 million. Equities research analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SPRY shares. Scotiabank started coverage on shares of ARS Pharmaceuticals in a report on Friday, March 7th. They set a “sector outperform” rating and a $30.00 price target for the company. Oppenheimer assumed coverage on shares of ARS Pharmaceuticals in a report on Monday, February 10th. They issued an “outperform” rating and a $40.00 target price on the stock. Raymond James increased their price target on ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 14th. 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 note on Monday, January 13th. Finally, William Blair reaffirmed an “outperform” rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ARS Pharmaceuticals currently has an average rating of “Buy” and an average price target of $31.00.

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.