Analysts Set ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Target Price at $24.00

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $24.00.

A number of research analysts have commented on SPRY shares. Leerink Partners boosted their target price on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price objective on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Finally, William Blair raised shares of ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th.

ARS Pharmaceuticals Stock Down 3.2 %

ARS Pharmaceuticals stock opened at $10.79 on Monday. ARS Pharmaceuticals has a 12 month low of $5.19 and a 12 month high of $18.51. The company’s fifty day simple moving average is $13.91 and its 200-day simple moving average is $12.51. The stock has a market cap of $1.05 billion, a P/E ratio of -21.16 and a beta of 0.88.

Insider Activity at ARS Pharmaceuticals

In related news, CEO Richard E. Lowenthal sold 100,000 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $13.83, for a total value of $1,383,000.00. Following the transaction, the chief executive officer now directly owns 1,346,494 shares in the company, valued at approximately $18,622,012.02. This trade represents a 6.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder James E. Flynn sold 528,456 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $18.04, for a total transaction of $9,533,346.24. Following the transaction, the insider now directly owns 5,274,735 shares of the company’s stock, valued at approximately $95,156,219.40. This represents a 9.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,258,058 shares of company stock valued at $19,369,686. Corporate insiders own 40.10% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in SPRY. nVerses Capital LLC acquired a new position in shares of ARS Pharmaceuticals during the third quarter worth approximately $30,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in ARS Pharmaceuticals by 151.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock worth $63,000 after acquiring an additional 4,472 shares during the period. Principal Financial Group Inc. acquired a new position in ARS Pharmaceuticals during the 2nd quarter valued at $87,000. J.W. Cole Advisors Inc. raised its stake 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 valued at $131,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Quarry LP bought a new stake in ARS Pharmaceuticals in the 3rd quarter valued at $174,000. Institutional investors 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.