Raymond James Financial Inc. Invests $6.58 Million in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Raymond James Financial Inc. purchased a new stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 623,281 shares of the company's stock, valued at approximately $6,576,000. Raymond James Financial Inc. owned 0.64% of ARS Pharmaceuticals as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SPRY. KLP Kapitalforvaltning AS bought a new stake in shares of ARS Pharmaceuticals during the fourth quarter worth about $73,000. Compass Capital Corp MA ADV bought a new position in ARS Pharmaceuticals during the fourth quarter worth $106,000. Teacher Retirement System of Texas bought a new stake in ARS Pharmaceuticals in the 4th quarter valued at about $122,000. Amica Mutual Insurance Co. acquired a new position in shares of ARS Pharmaceuticals during the fourth quarter worth approximately $151,000. Finally, SBI Securities Co. Ltd. bought a new position in ARS Pharmaceuticals in the 4th quarter valued at about $175,000. Institutional investors own 68.16% of the company's stock.

Insider Transactions at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, Director Laura Shawver sold 50,002 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $12.30, for a total value of $615,024.60. Following the sale, the director now directly owns 210,346 shares in the company, valued at $2,587,255.80. This trade represents a 19.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric Karas sold 10,000 shares of the company's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $14.00, for a total transaction of $140,000.00. Following the completion of the transaction, the insider now owns 7,696 shares of the company's stock, valued at approximately $107,744. The trade was a 56.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 159,602 shares of company stock valued at $1,926,541 in the last 90 days. 40.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Leerink Partners increased their price target on ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an "outperform" rating in a research report on Monday, January 13th. Scotiabank initiated coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 target price for the company. Oppenheimer started coverage on ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an "outperform" rating and a $40.00 target price on the stock. William Blair reiterated an "outperform" rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Finally, 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. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $31.00.

ARS Pharmaceuticals Stock Performance

Shares of SPRY traded down $0.26 during mid-day trading on Tuesday, hitting $13.88. 82,313 shares of the stock were exchanged, compared to its average volume of 1,168,086. ARS Pharmaceuticals, Inc. has a 52-week low of $7.55 and a 52-week high of $18.51. The firm has a 50-day moving average of $12.56 and a two-hundred day moving average of $13.06. The company has a market cap of $1.36 billion, a PE ratio of -27.16 and a beta of 0.86.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its earnings results on Thursday, March 20th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.56. The company had revenue of $86.58 million during the quarter, compared to the consensus estimate of $15.46 million. On average, sell-side analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

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.