Leerink Partners Forecasts Strong Price Appreciation for ARS Pharmaceuticals (NASDAQ:SPRY) Stock

ARS Pharmaceuticals (NASDAQ:SPRY) had its price objective lifted by analysts at Leerink Partners from $26.00 to $27.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Leerink Partners’ price objective indicates a potential upside of 137.68% from the company’s current price.

Separately, Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, ARS Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $26.00.

ARS Pharmaceuticals Trading Up 0.9 %

Shares of SPRY opened at $11.36 on Monday. The stock has a market capitalization of $1.10 billion, a PE ratio of -22.27 and a beta of 0.96. The firm’s 50 day moving average is $12.95 and its 200-day moving average is $12.78. ARS Pharmaceuticals has a 12 month low of $5.75 and a 12 month high of $18.51.

Insider Activity at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, major shareholder James E. Flynn sold 528,456 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 5,274,735 shares in the company, valued at $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 available at this link. Also, COO Brian Dorsey sold 25,000 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now owns 6,024 shares of the company’s stock, valued at $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 1,095,558 shares of company stock valued at $16,853,686 over the last ninety days. 40.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in ARS Pharmaceuticals during the 3rd quarter worth approximately $30,000. Principal Financial Group Inc. acquired a new stake in ARS Pharmaceuticals in the second quarter valued at $87,000. J.W. Cole Advisors Inc. raised its position in 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 purchasing an additional 1,500 shares during the last quarter. Quarry LP acquired a new position in ARS Pharmaceuticals during the 3rd quarter worth about $174,000. Finally, TFG Advisers LLC bought a new stake in shares of ARS Pharmaceuticals in the 3rd quarter valued at about $180,000. Institutional investors and hedge funds 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.