ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives $24.00 Consensus Target Price from Brokerages

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) has been given a consensus recommendation of "Buy" by the six analysts that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $24.00.

SPRY has been the topic of several recent analyst reports. Cantor Fitzgerald restated an "overweight" rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Leerink Partners boosted their price objective on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an "outperform" rating in a research report on Friday, September 20th. Raymond James upgraded shares of ARS Pharmaceuticals from an "outperform" rating to a "strong-buy" rating and increased their target price for the stock from $18.00 to $22.00 in a report on Tuesday, August 13th. Finally, William Blair upgraded ARS Pharmaceuticals to a "strong-buy" rating in a report on Friday, August 30th.

ARS Pharmaceuticals Stock Up 1.1 %

Shares of NASDAQ SPRY traded up $0.16 during midday trading on Thursday, reaching $14.53. The company had a trading volume of 674,182 shares, compared to its average volume of 816,657. The stock has a market cap of $1.41 billion, a PE ratio of -28.49 and a beta of 0.90. ARS Pharmaceuticals has a one year low of $4.65 and a one year high of $18.51. The firm's fifty day moving average price is $14.82 and its 200-day moving average price is $11.97.

Insider Activity at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Eric Karas sold 10,000 shares of the company's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the transaction, the insider now owns 5,693 shares of the company's stock, valued at $79,702. This represents a 63.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sarina Tanimoto sold 100,000 shares of the company's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.88, for a total transaction of $1,488,000.00. Following the completion of the transaction, the insider now owns 1,298,499 shares in the company, valued at approximately $19,321,665.12. The trade was a 7.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 908,770 shares of company stock worth $14,856,492 over the last ninety days. 40.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in SPRY. Vanguard Group Inc. increased its holdings in ARS Pharmaceuticals by 37.0% during the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company's stock valued at $29,500,000 after buying an additional 779,969 shares during the period. First Turn Management LLC bought a new stake in ARS Pharmaceuticals during the 3rd quarter valued at $8,603,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of ARS Pharmaceuticals by 78.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company's stock valued at $9,469,000 after acquiring an additional 288,021 shares during the period. Miura Global Management LLC purchased a new stake in shares of ARS Pharmaceuticals during the 3rd quarter worth $3,915,000. Finally, Wexford Capital LP acquired a new position in shares of ARS Pharmaceuticals during the third quarter worth $3,601,000. 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.