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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has received an average rating of “Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $24.00.

SPRY has been the subject of a number of recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price objective on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $18.00 to $22.00 in a research report on Tuesday, August 13th. William Blair raised ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Leerink Partners raised their price objective on 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 Trading Up 6.0 %

Shares of NASDAQ:SPRY opened at $14.42 on Thursday. The business has a 50-day moving average price of $14.80 and a 200 day moving average price of $12.15. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -26.69 and a beta of 0.88. ARS Pharmaceuticals has a 12-month low of $5.01 and a 12-month high of $18.51.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, major shareholder James E. Flynn sold 528,456 shares of ARS Pharmaceuticals stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $18.04, for a total value of $9,533,346.24. Following the completion of the transaction, the insider now directly owns 5,274,735 shares of the company’s stock, valued at $95,156,219.40. The trade was a 9.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard E. Lowenthal sold 100,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $12.93, for a total value of $1,293,000.00. Following the transaction, the chief executive officer now directly owns 1,398,499 shares of the company’s stock, valued at approximately $18,082,592.07. This represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,065,786 shares of company stock valued at $16,971,786 in the last three months. 40.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of ARS Pharmaceuticals by 37.0% during the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock worth $29,500,000 after buying an additional 779,969 shares in the last quarter. State Street Corp grew its position in shares of ARS Pharmaceuticals by 10.4% during the third quarter. State Street Corp now owns 2,049,542 shares of the company’s stock worth $29,718,000 after buying an additional 193,321 shares in the last quarter. Geode Capital Management LLC grew its position in shares of ARS Pharmaceuticals by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company’s stock worth $17,909,000 after buying an additional 38,927 shares in the last quarter. Royce & Associates LP grew its position in shares of ARS Pharmaceuticals by 7.1% during the third quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock worth $10,026,000 after buying an additional 45,755 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in ARS Pharmaceuticals by 78.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company’s stock worth $9,469,000 after purchasing an additional 288,021 shares during the last quarter. 68.16% of the stock is owned by institutional investors and hedge funds.

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.