ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives $24.00 Consensus Target Price from Brokerages

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) have earned a consensus rating of "Buy" from the six research firms that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $24.00.

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

Insider Buying and Selling at ARS Pharmaceuticals

In other news, insider Sarina Tanimoto sold 100,000 shares of the company's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.88, for a total value of $1,488,000.00. Following the completion of the transaction, the insider now directly owns 1,298,499 shares in the company, valued at approximately $19,321,665.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Sarina Tanimoto sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $14.88, for a total value of $1,488,000.00. Following the completion of the sale, the insider now owns 1,298,499 shares in the company, valued at $19,321,665.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Eric Karas sold 10,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $14.00, for a total transaction of $140,000.00. Following the transaction, the insider now owns 5,693 shares in the company, valued at $79,702. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,055,895 shares of company stock worth $14,619,032 over the last 90 days. Corporate insiders own 40.10% of the company's stock.

Institutional Trading of ARS Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in SPRY. US Bancorp DE increased its holdings in shares of ARS Pharmaceuticals by 11,951.6% in the third quarter. US Bancorp DE now owns 18,680 shares of the company's stock worth $271,000 after buying an additional 18,525 shares during the period. China Universal Asset Management Co. Ltd. grew its position in ARS Pharmaceuticals by 63.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 18,645 shares of the company's stock worth $270,000 after acquiring an additional 7,262 shares during the last quarter. J.W. Cole Advisors Inc. increased its stake in ARS Pharmaceuticals by 33.2% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 20,520 shares of the company's stock worth $298,000 after purchasing an additional 5,120 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in ARS Pharmaceuticals by 9.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 57,624 shares of the company's stock valued at $836,000 after purchasing an additional 4,810 shares during the last quarter. Finally, TFG Advisers LLC purchased a new stake in shares of ARS Pharmaceuticals during the third quarter valued at approximately $180,000. 68.16% of the stock is owned by institutional investors.

ARS Pharmaceuticals Stock Up 3.7 %

SPRY traded up $0.54 during trading on Friday, reaching $15.26. 1,069,108 shares of the company were exchanged, compared to its average volume of 841,843. ARS Pharmaceuticals has a 12-month low of $3.38 and a 12-month high of $17.08. The company's 50-day moving average is $14.05 and its two-hundred day moving average is $11.23. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -32.47 and a beta of 0.90.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). The firm had revenue of $0.50 million for the quarter, compared to analysts' expectations of $2.00 million. Equities analysts forecast that ARS Pharmaceuticals will post -0.66 earnings per share for the current year.

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.