ARS Pharmaceuticals (NASDAQ:SPRY) Stock Rating Reaffirmed by Cantor Fitzgerald

ARS Pharmaceuticals (NASDAQ:SPRY)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $30.00 target price on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 129.89% from the company’s current price.

Several other research firms have also issued reports on SPRY. 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 report on Tuesday, August 13th. William Blair raised ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Finally, Leerink Partners boosted their target price on shares of ARS Pharmaceuticals from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $22.75.

ARS Pharmaceuticals Stock Performance

NASDAQ SPRY opened at $13.05 on Monday. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -25.10 and a beta of 0.90. ARS Pharmaceuticals has a 52 week low of $2.55 and a 52 week high of $16.50. The stock’s 50 day moving average price is $11.75 and its two-hundred day moving average price is $9.91.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its earnings results on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The company had revenue of $0.50 million for the quarter, compared to analyst estimates of $2.00 million. On average, equities research analysts forecast that ARS Pharmaceuticals will post -0.66 EPS for the current year.

Insider Buying and Selling

In other ARS Pharmaceuticals news, CFO Kathleen D. Scott sold 12,500 shares of ARS Pharmaceuticals stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $16.00, for a total transaction of $200,000.00. Following the completion of the transaction, the chief financial officer now directly owns 13,199 shares of the company’s stock, valued at $211,184. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other ARS Pharmaceuticals news, Director Peter A. Thompson sold 407,700 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $13.56, for a total value of $5,528,412.00. Following the transaction, the director now directly owns 544,677 shares of the company’s stock, valued at approximately $7,385,820.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kathleen D. Scott sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $16.00, for a total value of $200,000.00. Following the sale, the chief financial officer now owns 13,199 shares of the company’s stock, valued at approximately $211,184. The disclosure for this sale can be found here. In the last three months, insiders have sold 933,395 shares of company stock valued at $12,217,032. 40.10% of the stock is owned by insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

A number of large investors have recently made changes to their positions in SPRY. RA Capital Management L.P. grew its holdings in ARS Pharmaceuticals by 14.8% in the 1st quarter. RA Capital Management L.P. now owns 10,860,977 shares of the company’s stock valued at $110,999,000 after buying an additional 1,401,299 shares in the last quarter. Vanguard Group Inc. increased its position in ARS Pharmaceuticals by 37.0% during 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 period. ClariVest Asset Management LLC acquired a new stake in ARS Pharmaceuticals in the 1st quarter worth about $2,790,000. Jacobs Levy Equity Management Inc. boosted its holdings in ARS Pharmaceuticals by 1,280.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 277,706 shares of the company’s stock valued at $2,838,000 after purchasing an additional 257,589 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of ARS Pharmaceuticals by 5.9% during the 4th quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock worth $22,460,000 after purchasing an additional 229,988 shares in the last quarter. Institutional investors own 68.16% of the company’s stock.

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.