ARS Pharmaceuticals (NASDAQ:SPRY) Reaches New 1-Year High – Here’s What Happened

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s share price reached a new 52-week high on Tuesday . The company traded as high as $17.04 and last traded at $16.86, with a volume of 19635 shares. The stock had previously closed at $16.72.

Analyst Upgrades and Downgrades

SPRY has been the subject of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $18.00 to $22.00 in a research note on Tuesday, August 13th. William Blair raised ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Leerink Partners raised their price target on ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, ARS Pharmaceuticals has an average rating of “Buy” and an average price target of $24.00.

ARS Pharmaceuticals Price Performance

The firm has a market cap of $1.56 billion, a PE ratio of -30.87 and a beta of 0.91. The company has a 50-day simple moving average of $13.80 and a 200-day simple moving average of $10.92.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The company had revenue of $0.50 million during the quarter, compared to the consensus estimate of $2.00 million. As a group, equities research analysts predict that ARS Pharmaceuticals, Inc. will post -0.66 earnings per share for the current year.

Insider Activity

In related news, COO Brian Dorsey sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $15.00, for a total value of $750,000.00. Following the transaction, the chief operating officer now owns 6,024 shares of the company’s stock, valued at $90,360. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other ARS Pharmaceuticals news, COO Brian Dorsey sold 50,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $15.00, for a total value of $750,000.00. Following the transaction, the chief operating officer now directly owns 6,024 shares in the company, valued at $90,360. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sarina Tanimoto sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $14.88, for a total transaction of $1,488,000.00. Following the transaction, the insider now directly owns 1,298,499 shares in the company, valued at approximately $19,321,665.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,055,895 shares of company stock valued at $14,619,032. 40.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the company. J.W. Cole Advisors Inc. increased its stake in shares of ARS Pharmaceuticals by 10.8% during the second quarter. J.W. Cole Advisors Inc. now owns 15,400 shares of the company’s stock valued at $131,000 after buying an additional 1,500 shares during the period. nVerses Capital LLC bought a new position in ARS Pharmaceuticals during the 3rd quarter worth about $30,000. Creative Planning increased its position in ARS Pharmaceuticals by 7.0% during the 3rd quarter. Creative Planning now owns 35,263 shares of the company’s stock valued at $511,000 after purchasing an additional 2,307 shares during the period. Levin Capital Strategies L.P. raised its holdings in shares of ARS Pharmaceuticals by 5.7% in the 1st quarter. Levin Capital Strategies L.P. now owns 55,250 shares of the company’s stock valued at $565,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of ARS Pharmaceuticals by 151.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock worth $63,000 after purchasing an additional 4,472 shares during the period. 68.16% of the stock is owned by institutional investors.

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.