William Blair Reaffirms "Outperform" Rating for ARS Pharmaceuticals (NASDAQ:SPRY)

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report)'s stock had its "outperform" rating reiterated by research analysts at William Blair in a research note issued to investors on Monday,RTT News reports.

SPRY has been the subject of a number of other reports. Raymond James boosted 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. Oppenheimer began coverage on ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an "outperform" rating and a $40.00 price target on the stock. Finally, Leerink Partners raised their price target on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ARS Pharmaceuticals presently has a consensus rating of "Buy" and a consensus target price of $28.80.

ARS Pharmaceuticals Stock Performance

NASDAQ:SPRY traded down $0.08 on Monday, hitting $10.79. 1,922,951 shares of the stock were exchanged, compared to its average volume of 1,338,718. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -21.16 and a beta of 0.99. ARS Pharmaceuticals has a 52 week low of $7.55 and a 52 week high of $18.51. The company's 50-day moving average price is $11.88 and its 200 day moving average price is $13.18.

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Insider Transactions at ARS Pharmaceuticals

In other news, insider Sarina Tanimoto sold 100,000 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $13.16, for a total transaction of $1,316,000.00. Following the completion of the sale, the insider now owns 1,148,499 shares of the company's stock, valued at $15,114,246.84. This represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Justin Chakma sold 50,000 shares of the business's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $14.23, for a total transaction of $711,500.00. Following the completion of the sale, the insider now directly owns 136,380 shares in the company, valued at $1,940,687.40. This represents a 26.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 402,272 shares of company stock valued at $5,001,400 over the last three months. 40.10% of the stock is currently owned by corporate insiders.

Institutional Trading of ARS Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. raised its position in ARS Pharmaceuticals by 5,168.4% in the 4th quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company's stock valued at $40,942,000 after buying an additional 3,807,074 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of ARS Pharmaceuticals by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company's stock valued at $36,555,000 after purchasing an additional 115,656 shares during the last quarter. State Street Corp lifted its position in shares of ARS Pharmaceuticals by 10.4% in the third quarter. State Street Corp now owns 2,049,542 shares of the company's stock worth $29,718,000 after purchasing an additional 193,321 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in shares of ARS Pharmaceuticals by 903.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company's stock worth $13,227,000 after purchasing an additional 1,128,724 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in ARS Pharmaceuticals by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,238,156 shares of the company's stock worth $13,066,000 after purchasing an additional 3,351 shares during the last quarter. 68.16% of the stock is currently owned by institutional investors.

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.