ARS Pharmaceuticals (NASDAQ:SPRY) Earns Outperform Rating from Analysts at Raymond James

Raymond James assumed coverage on shares of ARS Pharmaceuticals (NASDAQ:SPRY) in a research note published on Thursday morning, Marketbeat reports. The firm issued an outperform rating and a $18.00 target price on the stock.

ARS Pharmaceuticals Stock Down 1.9 %

Shares of SPRY stock opened at $10.98 on Thursday. The stock has a 50-day moving average price of $9.31 and a 200 day moving average price of $8.59. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -21.12 and a beta of 0.87. ARS Pharmaceuticals has a 12 month low of $2.55 and a 12 month high of $11.90.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its earnings results on Thursday, May 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). Sell-side analysts predict that ARS Pharmaceuticals will post -0.6 earnings per share for the current fiscal year.

Insider Transactions at ARS Pharmaceuticals

In other news, CEO Richard E. Lowenthal sold 100,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $11.40, for a total transaction of $1,140,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,547,447 shares in the company, valued at approximately $17,640,895.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Richard E. Lowenthal sold 5,147 shares of ARS Pharmaceuticals stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $9.05, for a total transaction of $46,580.35. Following the transaction, the chief executive officer now owns 1,642,193 shares in the company, valued at approximately $14,861,846.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard E. Lowenthal sold 100,000 shares of ARS Pharmaceuticals stock in a transaction dated 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 transaction, the chief executive officer now owns 1,547,447 shares in the company, valued at approximately $17,640,895.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 500,000 shares of company stock worth $4,856,040. 40.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in shares of ARS Pharmaceuticals by 99.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 139,285 shares of the company’s stock valued at $1,185,000 after purchasing an additional 69,394 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of ARS Pharmaceuticals by 861.5% during the 2nd quarter. SG Americas Securities LLC now owns 111,592 shares of the company’s stock valued at $950,000 after purchasing an additional 99,986 shares in the last quarter. Virtu Financial LLC bought a new position in shares of ARS Pharmaceuticals during the 1st quarter valued at about $206,000. RA Capital Management L.P. lifted its holdings in shares of ARS Pharmaceuticals by 14.8% during the 1st quarter. RA Capital Management L.P. now owns 10,860,977 shares of the company’s stock valued at $110,999,000 after purchasing an additional 1,401,299 shares in the last quarter. Finally, Levin Capital Strategies L.P. lifted its holdings in shares of ARS Pharmaceuticals by 5.7% during the 1st quarter. Levin Capital Strategies L.P. now owns 55,250 shares of the company’s stock valued at $565,000 after purchasing an additional 3,000 shares in the last quarter. Institutional investors own 68.16% of the company’s stock.

About ARS Pharmaceuticals

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.