Analysts Set ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Price Target at $31.00

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) has been assigned a consensus rating of "Buy" from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $31.00.

A number of research analysts have recently issued reports on SPRY shares. Scotiabank began coverage on ARS Pharmaceuticals in a report on Friday, March 7th. They set a "sector outperform" rating and a $30.00 price target on the stock. Oppenheimer started coverage on shares of ARS Pharmaceuticals in a report on Monday, February 10th. They set an "outperform" rating and a $40.00 price target on the stock. Raymond James lifted their price target on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 14th. William Blair restated an "outperform" rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Finally, Leerink Partners lifted their target price on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Monday, January 13th.

ARS Pharmaceuticals Stock Down 4.5 %

Shares of NASDAQ SPRY traded down $0.60 during midday trading on Wednesday, hitting $12.80. The stock had a trading volume of 2,802,250 shares, compared to its average volume of 1,103,771. The business's 50 day moving average is $12.09 and its 200-day moving average is $13.08. ARS Pharmaceuticals has a 52 week low of $7.55 and a 52 week high of $18.51. The company has a market cap of $1.26 billion, a P/E ratio of -25.10 and a beta of 0.86.

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ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.56. The business had revenue of $86.58 million during the quarter, compared to the consensus estimate of $15.46 million. As a group, analysts expect that ARS Pharmaceuticals will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.00, for a total transaction of $140,000.00. Following the transaction, the insider now directly owns 7,696 shares in the company, valued at approximately $107,744. The trade was a 56.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Laura Shawver sold 50,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.31, for a total value of $615,500.00. Following the sale, the director now directly owns 210,346 shares of the company's stock, valued at $2,589,359.26. This represents a 19.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 159,600 shares of company stock valued at $1,866,516. 40.10% of the stock is owned by insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPRY. Wellington Management Group LLP increased its stake in shares of ARS Pharmaceuticals by 0.6% in the fourth quarter. Wellington Management Group LLP now owns 163,252 shares of the company's stock worth $1,722,000 after purchasing an additional 917 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in ARS Pharmaceuticals by 4.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 60,294 shares of the company's stock worth $636,000 after buying an additional 2,670 shares during the period. Bernard Wealth Management Corp. purchased a new stake in ARS Pharmaceuticals in the 4th quarter worth $27,000. Ball & Co Wealth Management Inc. bought a new stake in ARS Pharmaceuticals during the fourth quarter valued at about $105,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of ARS Pharmaceuticals by 5.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 247,314 shares of the company's stock valued at $2,609,000 after acquiring an additional 12,777 shares in the last quarter. Institutional investors own 68.16% of the company's stock.

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.