ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives Consensus Rating of "Buy" from Brokerages

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) has earned a consensus recommendation of "Buy" from the six brokerages that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $24.00.

Several analysts have issued reports on SPRY shares. Raymond James upgraded ARS Pharmaceuticals from an "outperform" rating to a "strong-buy" rating and upped their target price for the company from $18.00 to $22.00 in a report on Tuesday, August 13th. William Blair raised ARS Pharmaceuticals to a "strong-buy" rating in a research note on Friday, August 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 price objective on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Finally, Leerink Partners lifted their price objective on ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an "outperform" rating in a report on Friday, September 20th.

Insider Activity at ARS Pharmaceuticals

In other news, insider Justin Chakma sold 25,000 shares of ARS Pharmaceuticals stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $14.39, for a total transaction of $359,750.00. Following the completion of the sale, the insider now directly owns 136,380 shares in the company, valued at $1,962,508.20. The trade was a 15.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder James E. Flynn sold 528,456 shares of the company's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $18.04, for a total transaction of $9,533,346.24. Following the transaction, the insider now directly owns 5,274,735 shares in the company, valued at $95,156,219.40. The trade was a 9.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 908,770 shares of company stock valued at $14,856,492. 40.10% of the stock is owned by corporate insiders.

Institutional Trading of ARS Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPRY. Vanguard Group Inc. lifted its position in shares of ARS Pharmaceuticals by 37.0% during the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company's stock worth $29,500,000 after purchasing an additional 779,969 shares in the last quarter. State Street Corp increased its position in shares of ARS Pharmaceuticals by 10.4% during the third quarter. State Street Corp now owns 2,049,542 shares of the company's stock worth $29,718,000 after acquiring an additional 193,321 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of ARS Pharmaceuticals by 3.3% in the third quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company's stock worth $17,909,000 after acquiring an additional 38,927 shares in the last quarter. Royce & Associates LP boosted its holdings in ARS Pharmaceuticals by 7.1% in the third quarter. Royce & Associates LP now owns 691,455 shares of the company's stock valued at $10,026,000 after purchasing an additional 45,755 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in ARS Pharmaceuticals by 78.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company's stock worth $9,469,000 after purchasing an additional 288,021 shares during the last quarter. Hedge funds and other institutional investors own 68.16% of the company's stock.

ARS Pharmaceuticals Trading Up 1.1 %

SPRY traded up $0.16 during midday trading on Thursday, hitting $14.53. 674,182 shares of the company were exchanged, compared to its average volume of 816,657. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -28.49 and a beta of 0.90. ARS Pharmaceuticals has a 1-year low of $4.65 and a 1-year high of $18.51. The company's 50 day simple moving average is $14.82 and its 200 day simple moving average is $11.97.

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.