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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has been assigned a consensus recommendation of “Buy” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $26.00.

Several equities research analysts recently weighed in on the company. 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. Leerink Partners raised their target price on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price target on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, major shareholder James E. Flynn sold 528,456 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 5,274,735 shares of the company’s stock, valued at approximately $95,156,219.40. This trade represents a 9.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Laura Shawver sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.10, for a total value of $555,000.00. Following the sale, the director now directly owns 210,346 shares in the company, valued at $2,334,840.60. This trade represents a 19.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,095,558 shares of company stock valued at $16,853,686. 40.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several hedge funds have recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in ARS Pharmaceuticals during the third quarter worth $30,000. J.W. Cole Advisors Inc. raised its stake in shares of ARS Pharmaceuticals by 10.8% during 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. Quarry LP acquired a new position in shares of ARS Pharmaceuticals during the 3rd quarter worth $174,000. TFG Advisers LLC purchased a new stake in shares of ARS Pharmaceuticals in the 3rd quarter worth about $180,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in ARS Pharmaceuticals in the 2nd quarter valued at about $180,000. 68.16% of the stock is owned by hedge funds and other institutional investors.

ARS Pharmaceuticals Trading Up 1.4 %

ARS Pharmaceuticals stock opened at $12.18 on Friday. The stock has a 50 day moving average of $12.80 and a two-hundred day moving average of $12.79. ARS Pharmaceuticals has a twelve month low of $5.81 and a twelve month high of $18.51. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -23.88 and a beta of 0.96.

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.