Analysts Set ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Target Price at $26.00

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) has received a consensus rating of "Buy" from the six ratings firms that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $26.00.

SPRY has been the subject of several research reports. Leerink Partners increased their target price on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Monday. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. Finally, Raymond James increased their target price on ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a "strong-buy" rating in a research report on Tuesday.

Insider Buying and Selling

In related news, insider Sarina Tanimoto sold 100,000 shares of the company's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $13.16, for a total value of $1,316,000.00. Following the sale, the insider now owns 1,148,499 shares in the company, valued at $15,114,246.84. This represents a 8.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Laura Shawver sold 14,772 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $13.75, for a total value of $203,115.00. Following the completion of the sale, the director now owns 210,346 shares in the company, valued at $2,892,257.50. The trade was a 6.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,095,558 shares of company stock worth $16,853,686 in the last 90 days. 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. 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. nVerses Capital LLC purchased a new stake in ARS Pharmaceuticals during the 3rd quarter valued at $30,000. Creative Planning boosted its stake in ARS Pharmaceuticals by 7.0% during the 3rd quarter. Creative Planning now owns 35,263 shares of the company's stock valued at $511,000 after purchasing an additional 2,307 shares during the last quarter. HighTower Advisors LLC boosted its stake in ARS Pharmaceuticals by 18.2% during the 3rd quarter. HighTower Advisors LLC now owns 28,310 shares of the company's stock valued at $411,000 after purchasing an additional 4,369 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in ARS Pharmaceuticals by 9.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 57,624 shares of the company's stock valued at $836,000 after purchasing an additional 4,810 shares during the last quarter. 68.16% of the stock is currently owned by hedge funds and other institutional investors.

ARS Pharmaceuticals Price Performance

SPRY traded up $0.39 during midday trading on Friday, reaching $12.57. 1,679,780 shares of the company's stock traded hands, compared to its average volume of 1,444,780. The firm has a fifty day moving average of $12.72 and a two-hundred day moving average of $12.79. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -24.65 and a beta of 0.96. ARS Pharmaceuticals has a 52 week low of $5.91 and a 52 week high of $18.51.

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.