ARS Pharmaceuticals (NASDAQ:SPRY) Receives Outperform Rating from William Blair

William Blair reiterated their outperform rating on shares of ARS Pharmaceuticals (NASDAQ:SPRY) in a research note published on Friday morning,RTT News reports.

SPRY has been the subject of several other research reports. Raymond James boosted their price objective on ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 14th. Oppenheimer initiated coverage on ARS Pharmaceuticals in a report on Monday, February 10th. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Leerink Partners upped their price objective on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ARS Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $28.80.

ARS Pharmaceuticals Price Performance

NASDAQ SPRY opened at $11.24 on Friday. ARS Pharmaceuticals has a 1 year low of $7.50 and a 1 year high of $18.51. The company has a market capitalization of $1.09 billion, a PE ratio of -22.04 and a beta of 0.99. The company has a fifty day moving average of $12.02 and a 200 day moving average of $13.22.

Insiders Place Their Bets

In related news, Director Laura Shawver sold 50,000 shares of ARS Pharmaceuticals stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.31, for a total value of $615,500.00. Following the sale, the director now directly owns 210,346 shares in the company, valued at approximately $2,589,359.26. The trade was a 19.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Justin Chakma sold 32,814 shares of ARS Pharmaceuticals stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $14.00, for a total value of $459,396.00. Following the completion of the sale, the insider now directly owns 203,566 shares in the company, valued at $2,849,924. This represents a 13.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 617,102 shares of company stock worth $7,935,840. 40.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. grew its position in shares of ARS Pharmaceuticals by 5,168.4% in the fourth quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company’s stock valued at $40,942,000 after purchasing an additional 3,807,074 shares in the last quarter. Vanguard Group Inc. grew its holdings in ARS Pharmaceuticals by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company’s stock valued at $36,555,000 after buying an additional 115,656 shares in the last quarter. State Street Corp grew its holdings in ARS Pharmaceuticals by 10.4% in the 3rd quarter. State Street Corp now owns 2,049,542 shares of the company’s stock valued at $29,718,000 after buying an additional 193,321 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in shares of ARS Pharmaceuticals by 903.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company’s stock worth $13,227,000 after acquiring an additional 1,128,724 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of ARS Pharmaceuticals by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,238,156 shares of the company’s stock worth $13,066,000 after acquiring an additional 3,351 shares during the period. Hedge funds and other institutional investors own 68.16% of the company’s stock.

About ARS Pharmaceuticals

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.