ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives $29.00 Average Target Price from Analysts

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) has received a consensus recommendation of "Buy" from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $31.00.

A number of brokerages have weighed in on SPRY. Oppenheimer assumed coverage on shares of ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an "outperform" rating and a $40.00 price target on the stock. Raymond James lifted their price target on ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 14th. Leerink Partners upped their price objective on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Monday, January 13th. Scotiabank assumed coverage on ARS Pharmaceuticals in a report on Friday. They set a "sector outperform" rating and a $30.00 price objective for the company. Finally, William Blair restated an "outperform" rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd.

ARS Pharmaceuticals Trading Up 6.5 %

Shares of NASDAQ SPRY traded up $0.70 during mid-day trading on Friday, reaching $11.53. 1,208,390 shares of the company's stock were exchanged, compared to its average volume of 1,336,987. The business has a fifty day simple moving average of $11.87 and a 200 day simple moving average of $13.11. ARS Pharmaceuticals has a twelve month low of $7.55 and a twelve month high of $18.51. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -22.61 and a beta of 1.03.

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Insider Buying and Selling

In related news, Director Laura Shawver sold 49,600 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $11.21, for a total transaction of $556,016.00. Following the transaction, the director now directly owns 210,346 shares in the company, valued at approximately $2,357,978.66. The trade was a 19.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Brian Dorsey sold 25,000 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $12.30, for a total transaction of $307,500.00. Following the completion of the sale, the chief operating officer now owns 6,024 shares of the company's stock, valued at approximately $74,095.20. This represents a 80.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 301,872 shares of company stock worth $3,529,916. Corporate insiders own 40.10% of the company's stock.

Hedge Funds Weigh In On ARS Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bernard Wealth Management Corp. bought a new position in shares of ARS Pharmaceuticals during the 4th quarter worth approximately $27,000. KLP Kapitalforvaltning AS acquired a new stake in ARS Pharmaceuticals during the 4th quarter valued at $73,000. BNP Paribas Financial Markets bought a new position in ARS Pharmaceuticals during the fourth quarter worth $75,000. Ball & Co Wealth Management Inc. acquired a new position in shares of ARS Pharmaceuticals in the fourth quarter valued at $105,000. Finally, Compass Capital Corp MA ADV bought a new position in shares of ARS Pharmaceuticals in the fourth quarter valued at about $106,000. 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.