Raymond James & Associates Invests $2.97 Million in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Raymond James & Associates acquired a new stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 204,783 shares of the company's stock, valued at approximately $2,969,000. Raymond James & Associates owned 0.21% of ARS Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SPRY. RA Capital Management L.P. increased its stake in ARS Pharmaceuticals by 14.8% in the 1st quarter. RA Capital Management L.P. now owns 10,860,977 shares of the company's stock worth $110,999,000 after acquiring an additional 1,401,299 shares during the last quarter. Vanguard Group Inc. increased its position in shares of ARS Pharmaceuticals by 37.0% in 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 during the last quarter. ClariVest Asset Management LLC purchased a new stake in ARS Pharmaceuticals in the first quarter valued at approximately $2,790,000. Jacobs Levy Equity Management Inc. lifted its position in ARS Pharmaceuticals by 1,280.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 277,706 shares of the company's stock valued at $2,838,000 after purchasing an additional 257,589 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in ARS Pharmaceuticals by 884.9% in the 2nd quarter. Renaissance Technologies LLC now owns 124,100 shares of the company's stock worth $1,056,000 after buying an additional 111,500 shares in the last quarter. Hedge funds and other institutional investors own 68.16% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SPRY. Raymond James upgraded shares of ARS Pharmaceuticals from an "outperform" rating to a "strong-buy" rating and raised their price objective for the company from $18.00 to $22.00 in a research report on Tuesday, August 13th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 price target on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. William Blair upgraded ARS Pharmaceuticals to a "strong-buy" rating in a research report on Friday, August 30th. Finally, Leerink Partners boosted their target price on ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an "outperform" rating in a research report on Friday, September 20th. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ARS Pharmaceuticals currently has a consensus rating of "Buy" and a consensus target price of $24.00.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, insider Eric Karas sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the transaction, the insider now owns 5,693 shares in the company, valued at approximately $79,702. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ARS Pharmaceuticals news, CEO Richard E. Lowenthal sold 100,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $15.03, for a total value of $1,503,000.00. Following the completion of the sale, the chief executive officer now owns 1,497,447 shares in the company, valued at approximately $22,506,628.41. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the sale, the insider now owns 5,693 shares in the company, valued at approximately $79,702. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,055,895 shares of company stock worth $14,619,032. 40.10% of the stock is currently owned by insiders.

ARS Pharmaceuticals Price Performance

NASDAQ SPRY traded up $0.12 during trading on Tuesday, hitting $15.32. 574,262 shares of the company's stock traded hands, compared to its average volume of 772,672. The firm has a market cap of $1.49 billion, a P/E ratio of -31.96 and a beta of 0.90. The stock has a fifty day moving average of $14.09 and a two-hundred day moving average of $11.30. ARS Pharmaceuticals, Inc. has a 12-month low of $3.38 and a 12-month high of $17.08.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The company had revenue of $0.50 million during the quarter, compared to the consensus estimate of $2.00 million. As a group, analysts expect that ARS Pharmaceuticals, Inc. will post -0.66 earnings per share for the current fiscal 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.