ARS Pharmaceuticals (NASDAQ:SPRY) Price Target Raised to $27.00 at Leerink Partners

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) had its target price increased by analysts at Leerink Partners from $26.00 to $27.00 in a report released on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Leerink Partners' price objective would indicate a potential upside of 139.79% from the company's current price.

Separately, Cantor Fitzgerald restated an "overweight" rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $24.50.

ARS Pharmaceuticals Stock Up 0.2 %

NASDAQ:SPRY traded up $0.02 on Monday, hitting $11.26. The stock had a trading volume of 2,072,660 shares, compared to its average volume of 1,403,636. The business's 50-day simple moving average is $13.03 and its two-hundred day simple moving average is $12.75. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -22.08 and a beta of 0.96. ARS Pharmaceuticals has a 52-week low of $5.75 and a 52-week high of $18.51.

Insider Activity at ARS Pharmaceuticals

In related news, insider Sarina Tanimoto sold 100,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.88, for a total transaction of $1,488,000.00. Following the completion of the sale, the insider now owns 1,298,499 shares in the company, valued at approximately $19,321,665.12. This trade represents a 7.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kathleen D. Scott sold 12,500 shares of the company's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $16.00, for a total value of $200,000.00. Following the completion of the transaction, the chief financial officer now owns 4,949 shares of the company's stock, valued at $79,184. The trade was a 71.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,208,058 shares of company stock worth $18,541,686. 40.10% of the stock is owned by company insiders.

Institutional Trading of ARS Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. Barclays PLC grew its position in shares of ARS Pharmaceuticals by 189.7% during the third quarter. Barclays PLC now owns 111,666 shares of the company's stock valued at $1,618,000 after purchasing an additional 73,127 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ARS Pharmaceuticals by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company's stock valued at $17,909,000 after buying an additional 38,927 shares in the last quarter. XTX Topco Ltd bought a new position in shares of ARS Pharmaceuticals in the 3rd quarter valued at about $250,000. Wellington Management Group LLP grew its position in ARS Pharmaceuticals by 38.9% in the third quarter. Wellington Management Group LLP now owns 162,335 shares of the company's stock worth $2,354,000 after acquiring an additional 45,452 shares in the last quarter. Finally, Wexford Capital LP bought a new stake in ARS Pharmaceuticals during the third quarter worth approximately $3,601,000. Hedge funds and other 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.