Brokerages Set ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) PT at $24.00

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have earned a consensus recommendation of “Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $24.00.

A number of equities analysts have issued reports on the stock. William Blair raised shares of ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. Finally, Leerink Partners lifted their target price 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.

ARS Pharmaceuticals Stock Up 1.9 %

Shares of NASDAQ:SPRY opened at $11.41 on Monday. The business’s 50 day moving average is $14.11 and its 200 day moving average is $12.51. ARS Pharmaceuticals has a 12-month low of $5.18 and a 12-month high of $18.51. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -22.37 and a beta of 0.88.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, CEO Richard E. Lowenthal sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $13.83, for a total value of $1,383,000.00. Following the sale, the chief executive officer now owns 1,346,494 shares of the company’s stock, valued at $18,622,012.02. The trade was a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Brian Dorsey sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $12.30, for a total transaction of $307,500.00. Following the completion of the transaction, the chief operating officer now directly owns 6,024 shares of the company’s stock, valued at approximately $74,095.20. This trade represents a 80.58 % 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 ninety days. 40.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. First Turn Management LLC purchased a new stake in shares of ARS Pharmaceuticals in the third quarter worth about $8,603,000. Royce & Associates LP increased its holdings in ARS Pharmaceuticals by 7.1% during the 3rd quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock worth $10,026,000 after acquiring an additional 45,755 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in ARS Pharmaceuticals in the 3rd quarter worth approximately $2,584,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in ARS Pharmaceuticals by 766.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 234,537 shares of the company’s stock worth $3,401,000 after purchasing an additional 207,456 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in ARS Pharmaceuticals by 99.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 139,285 shares of the company’s stock valued at $1,185,000 after purchasing an additional 69,394 shares during the period. 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.