ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Given Average Rating of “Buy” by Brokerages

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has been given a consensus rating of “Buy” by the six ratings firms that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $22.75.

A number of equities analysts recently issued reports on SPRY shares. William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a research note on Monday. Raymond James raised shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $18.00 to $22.00 in a research note on Tuesday, August 13th. Finally, Leerink Partners lifted their price objective on shares of ARS Pharmaceuticals from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, August 12th.

Insider Transactions at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, Director Peter A. Thompson sold 83,695 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $13.00, for a total transaction of $1,088,035.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Sarina Tanimoto sold 100,000 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $9.62, for a total transaction of $962,000.00. Following the completion of the sale, the insider now directly owns 1,496,494 shares in the company, valued at approximately $14,396,272.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter A. Thompson sold 83,695 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $13.00, for a total value of $1,088,035.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 933,395 shares of company stock valued at $12,217,032. 40.10% of the stock is currently owned by corporate insiders.

Institutional Trading of ARS Pharmaceuticals

Several hedge funds have recently modified their holdings of SPRY. The Manufacturers Life Insurance Company purchased a new position in shares of ARS Pharmaceuticals in the 2nd quarter worth approximately $180,000. Renaissance Technologies LLC boosted its stake in ARS Pharmaceuticals by 884.9% in the second quarter. Renaissance Technologies LLC now owns 124,100 shares of the company’s stock valued at $1,056,000 after acquiring an additional 111,500 shares in the last quarter. J.W. Cole Advisors Inc. grew its holdings in ARS Pharmaceuticals by 10.8% in the second 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. American Century Companies Inc. increased its position in shares of ARS Pharmaceuticals by 20.7% during the second quarter. American Century Companies Inc. now owns 97,803 shares of the company’s stock worth $832,000 after purchasing an additional 16,761 shares in the last quarter. Finally, ClariVest Asset Management LLC increased its position in shares of ARS Pharmaceuticals by 5.4% during the second quarter. ClariVest Asset Management LLC now owns 287,596 shares of the company’s stock worth $2,447,000 after purchasing an additional 14,640 shares in the last quarter. 68.16% of the stock is owned by hedge funds and other institutional investors.

ARS Pharmaceuticals Trading Up 7.7 %

SPRY stock opened at $14.05 on Friday. The stock has a market cap of $1.36 billion, a PE ratio of -27.21 and a beta of 0.90. ARS Pharmaceuticals has a 12 month low of $2.55 and a 12 month high of $16.50. The company has a 50-day moving average price of $11.81 and a 200 day moving average price of $9.94.

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

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.