Leerink Partners Increases ARS Pharmaceuticals (NASDAQ:SPRY) Price Target to $27.00

ARS Pharmaceuticals (NASDAQ:SPRY) had its price objective increased by investment analysts at Leerink Partners from $26.00 to $27.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Leerink Partners’ price objective suggests a potential upside of 124.25% from the stock’s current price.

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $24.50.

ARS Pharmaceuticals Stock Up 7.1 %

Shares of SPRY traded up $0.80 during trading hours on Monday, reaching $12.04. 626,437 shares of the company traded hands, compared to its average volume of 1,185,827. The stock has a market capitalization of $1.17 billion, a P/E ratio of -23.61 and a beta of 0.96. The business has a fifty day moving average price of $13.03 and a 200-day moving average price of $12.75. ARS Pharmaceuticals has a 12-month low of $5.75 and a 12-month high of $18.51.

Insider Buying and Selling

In related news, insider Sarina Tanimoto sold 100,000 shares of ARS Pharmaceuticals stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $11.67, for a total value of $1,167,000.00. Following the completion of the transaction, the insider now owns 1,098,499 shares in the company, valued at $12,819,483.33. The trade was a 8.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Laura Shawver sold 50,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.10, for a total value of $555,000.00. Following the transaction, the director now owns 210,346 shares in the company, valued at $2,334,840.60. This trade represents a 19.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,208,058 shares of company stock valued at $18,541,686 over the last ninety days. Company insiders own 40.10% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of ARS Pharmaceuticals by 99.3% in the second quarter. Bank of New York Mellon Corp now owns 139,285 shares of the company’s stock valued at $1,185,000 after buying an additional 69,394 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in ARS Pharmaceuticals in the 2nd quarter valued at about $87,000. Rhumbline Advisers lifted its stake in ARS Pharmaceuticals by 78.0% in the 2nd quarter. Rhumbline Advisers now owns 65,942 shares of the company’s stock worth $561,000 after purchasing an additional 28,888 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of ARS Pharmaceuticals during the 2nd quarter worth approximately $231,000. Finally, American Century Companies Inc. increased its holdings in shares of ARS Pharmaceuticals by 20.7% in the second 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. 68.16% of the stock is owned by institutional investors and hedge funds.

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.