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

Raymond James Financial Inc. purchased a new stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SPRY. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of ARS Pharmaceuticals during the 3rd quarter valued at about $1,120,000. Intech Investment Management LLC bought a new position in ARS Pharmaceuticals in the third quarter valued at approximately $239,000. Charles Schwab Investment Management Inc. boosted its stake in shares of ARS Pharmaceuticals by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 423,947 shares of the company's stock worth $6,147,000 after buying an additional 8,417 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of ARS Pharmaceuticals by 121.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 46,854 shares of the company's stock valued at $679,000 after acquiring an additional 25,658 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in ARS Pharmaceuticals by 766.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 234,537 shares of the company's stock worth $3,401,000 after acquiring an additional 207,456 shares in the last quarter. Institutional investors own 68.16% of the company's stock.

ARS Pharmaceuticals Stock Up 0.2 %

Shares of NASDAQ SPRY traded up $0.03 during mid-day trading on Thursday, reaching $12.63. 1,549,755 shares of the company were exchanged, compared to its average volume of 1,067,730. The stock has a market capitalization of $1.24 billion, a P/E ratio of -24.76 and a beta of 1.03. The company's 50-day simple moving average is $12.14 and its 200-day simple moving average is $13.07. ARS Pharmaceuticals, Inc. has a twelve month low of $7.55 and a twelve month high of $18.51.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.56. The company had revenue of $86.58 million for the quarter, compared to analyst estimates of $15.46 million. As a group, equities research analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Insider Buying and Selling

In other ARS Pharmaceuticals news, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock in a transaction dated Thursday, March 20th. The shares were 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 7,696 shares in the company, valued at $107,744. The trade was a 56.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Laura Shawver sold 50,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.31, for a total transaction of $615,500.00. Following the completion of the sale, the director now directly owns 210,346 shares of the company's stock, valued at $2,589,359.26. This represents a 19.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 159,600 shares of company stock valued at $1,866,516. Insiders own 40.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Raymond James increased their price objective on ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 14th. Scotiabank initiated coverage on shares of ARS Pharmaceuticals in a report on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 target price on the stock. William Blair reiterated an "outperform" rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Oppenheimer started coverage on ARS Pharmaceuticals in a research report on Monday, February 10th. They set an "outperform" rating and a $40.00 price target on the stock. Finally, Leerink Partners upped their price objective on ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an "outperform" rating in a research note on Monday, January 13th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $31.00.

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.