ARS Pharmaceuticals’ (SPRY) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of ARS Pharmaceuticals (NASDAQ:SPRY) in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a $30.00 target price on the stock.

A number of other research analysts have also weighed in on SPRY. Raymond James raised shares of ARS Pharmaceuticals from an outperform rating to a strong-buy rating and lifted their price target for the company from $18.00 to $22.00 in a research note on Tuesday, August 13th. Leerink Partners boosted their price objective on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an outperform rating in a research report on Friday, September 20th. Finally, William Blair upgraded ARS Pharmaceuticals to a strong-buy rating in a report on Friday, August 30th. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $24.00.

ARS Pharmaceuticals Stock Up 4.4 %

Shares of SPRY stock opened at $14.52 on Tuesday. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -27.92 and a beta of 0.91. ARS Pharmaceuticals has a 12-month low of $3.35 and a 12-month high of $16.50. The firm has a fifty day moving average of $13.02 and a 200-day moving average of $10.60.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly 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 the consensus estimate of $2.00 million. Research analysts expect that ARS Pharmaceuticals will post -0.66 earnings per share for the current year.

Insider Buying and Selling

In other ARS Pharmaceuticals news, CEO Richard E. Lowenthal sold 100,000 shares of ARS Pharmaceuticals stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $11.40, for a total value of $1,140,000.00. Following the sale, the chief executive officer now directly owns 1,547,447 shares in the company, valued at approximately $17,640,895.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Peter A. Thompson sold 83,695 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $13.00, for a total transaction of $1,088,035.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard E. Lowenthal sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $11.40, for a total value of $1,140,000.00. Following the completion of the transaction, the chief executive officer now owns 1,547,447 shares of the company’s stock, valued at approximately $17,640,895.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,043,395 shares of company stock worth $14,071,032. 40.10% of the stock is owned by insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new stake in ARS Pharmaceuticals during the first quarter worth $60,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of ARS Pharmaceuticals by 151.7% during 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 last quarter. Principal Financial Group Inc. bought a new stake in shares of ARS Pharmaceuticals in the 2nd quarter valued at about $87,000. Paloma Partners Management Co acquired a new stake in ARS Pharmaceuticals in the 1st quarter valued at about $103,000. Finally, SG Americas Securities LLC bought a new position in ARS Pharmaceuticals during the first quarter worth about $119,000. 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.