ARS Pharmaceuticals (NASDAQ:SPRY) Price Target Raised to $25.00

ARS Pharmaceuticals (NASDAQ:SPRY) had its price objective boosted by Leerink Partners from $21.00 to $25.00 in a report published on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

SPRY has been the subject of a number of other research reports. Raymond James raised ARS Pharmaceuticals from an outperform rating to a strong-buy rating and upped their price target for the company 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, Cantor Fitzgerald reissued an overweight rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a research report on Monday, September 16th. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, ARS Pharmaceuticals currently has a consensus rating of Buy and a consensus target price of $24.00.

ARS Pharmaceuticals Price Performance

SPRY opened at $14.77 on Friday. The business has a 50 day simple moving average of $12.03 and a two-hundred day simple moving average of $10.07. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -28.40 and a beta of 0.90. ARS Pharmaceuticals has a one year low of $2.75 and a one year high of $16.50.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The business had revenue of $0.50 million during the quarter, compared to analyst estimates of $2.00 million. As a group, sell-side analysts expect that ARS Pharmaceuticals will post -0.66 EPS for the current fiscal year.

Insider Transactions at ARS Pharmaceuticals

In related news, insider Sarina Tanimoto sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $9.62, for a total value of $962,000.00. Following the sale, the insider now owns 1,496,494 shares in the company, valued at approximately $14,396,272.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Sarina Tanimoto sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $9.62, for a total value of $962,000.00. Following the sale, the insider now owns 1,496,494 shares in the company, valued at approximately $14,396,272.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brian Dorsey sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $15.00, for a total value of $750,000.00. Following the completion of the sale, the chief operating officer now owns 6,024 shares in the company, valued at approximately $90,360. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,043,395 shares of company stock valued at $13,650,032. Corporate insiders own 40.10% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company purchased a new stake in ARS Pharmaceuticals during the 2nd quarter valued at $180,000. Renaissance Technologies LLC boosted its stake in ARS Pharmaceuticals by 884.9% during the 2nd quarter. Renaissance Technologies LLC now owns 124,100 shares of the company’s stock valued at $1,056,000 after purchasing an additional 111,500 shares during the last quarter. J.W. Cole Advisors Inc. boosted 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. American Century Companies Inc. boosted its stake in ARS Pharmaceuticals by 20.7% during the 2nd quarter. American Century Companies Inc. now owns 97,803 shares of the company’s stock valued at $832,000 after purchasing an additional 16,761 shares during the last quarter. Finally, ClariVest Asset Management LLC boosted its stake in ARS Pharmaceuticals by 5.4% during the 2nd quarter. ClariVest Asset Management LLC now owns 287,596 shares of the company’s stock valued at $2,447,000 after purchasing an additional 14,640 shares during the last quarter. 68.16% of the stock is currently owned by hedge funds and other institutional investors.

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.