Analysts Set ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Target Price at $28.80

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has been assigned a consensus rating of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $28.80.

SPRY has been the topic of several recent analyst reports. Oppenheimer initiated coverage on shares of ARS Pharmaceuticals in a report on Monday, February 10th. They issued an “outperform” rating and a $40.00 price target on the stock. Raymond James upped their price target on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 14th. Finally, Leerink Partners upped their price target on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, January 13th.

Insider Transactions at ARS Pharmaceuticals

In other news, insider Justin Chakma sold 32,814 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $14.00, for a total transaction of $459,396.00. Following the completion of the transaction, the insider now owns 203,566 shares in the company, valued at approximately $2,849,924. This represents a 13.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Laura Shawver sold 50,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.31, for a total transaction of $615,500.00. Following the transaction, the director now owns 210,346 shares of the company’s stock, valued at $2,589,359.26. This represents a 19.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 617,102 shares of company stock worth $7,935,840. Insiders own 40.10% of the company’s stock.

Hedge Funds Weigh In On ARS Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC bought a new position in ARS Pharmaceuticals in the 3rd quarter valued at about $30,000. KLP Kapitalforvaltning AS bought a new position in ARS Pharmaceuticals in the 4th quarter valued at about $73,000. BNP Paribas Financial Markets bought a new position in ARS Pharmaceuticals in the 4th quarter valued at about $75,000. Compass Capital Corp MA ADV acquired a new stake in ARS Pharmaceuticals in the 4th quarter valued at about $106,000. Finally, Teacher Retirement System of Texas acquired a new stake in ARS Pharmaceuticals in the 4th quarter valued at about $122,000. Institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Trading Up 0.8 %

NASDAQ SPRY opened at $12.02 on Tuesday. The company’s fifty day simple moving average is $12.08 and its 200-day simple moving average is $13.22. ARS Pharmaceuticals has a 52 week low of $6.70 and a 52 week high of $18.51. The stock has a market cap of $1.17 billion, a P/E ratio of -23.57 and a beta of 0.99.

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.