Raymond James Issues Positive Forecast for ARS Pharmaceuticals (NASDAQ:SPRY) Stock Price

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) had its price objective raised by Raymond James from $26.00 to $28.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "strong-buy" rating on the stock. Raymond James' price objective suggests a potential upside of 146.48% from the company's current price.

A number of other equities analysts also recently issued reports on SPRY. Leerink Partners increased their price objective on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an "outperform" rating in a research note on Monday. Cantor Fitzgerald reaffirmed 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $26.00.

ARS Pharmaceuticals Stock Performance

ARS Pharmaceuticals stock traded up $0.10 during midday trading on Tuesday, hitting $11.36. 899,595 shares of the company's stock were exchanged, compared to its average volume of 1,350,974. The company has a market cap of $1.10 billion, a PE ratio of -22.27 and a beta of 0.96. The firm has a 50-day moving average of $12.95 and a two-hundred day moving average of $12.78. ARS Pharmaceuticals has a 12 month low of $5.75 and a 12 month high of $18.51.

Insider Transactions at ARS Pharmaceuticals

In other news, CFO Kathleen D. Scott sold 12,500 shares of the company's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $16.00, for a total transaction of $200,000.00. Following the transaction, the chief financial officer now owns 4,949 shares in the company, valued at $79,184. This represents a 71.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sarina Tanimoto sold 100,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $13.16, for a total transaction of $1,316,000.00. Following the completion of the transaction, the insider now directly owns 1,148,499 shares of the company's stock, valued at $15,114,246.84. The trade was a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,108,058 shares of company stock valued at $17,053,686. Corporate insiders own 40.10% of the company's stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

A number of large investors have recently made changes to their positions in SPRY. State Street Corp lifted its stake in ARS Pharmaceuticals by 10.4% during the 3rd quarter. State Street Corp now owns 2,049,542 shares of the company's stock valued at $29,718,000 after acquiring an additional 193,321 shares during the period. Geode Capital Management LLC raised its stake 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 during the last quarter. Royce & Associates LP lifted its holdings in shares of ARS Pharmaceuticals by 7.1% in the 3rd quarter. Royce & Associates LP now owns 691,455 shares of the company's stock valued at $10,026,000 after buying an additional 45,755 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of ARS Pharmaceuticals by 78.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company's stock worth $9,469,000 after buying an additional 288,021 shares during the last quarter. Finally, First Turn Management LLC acquired a new stake in ARS Pharmaceuticals during the third quarter worth about $8,603,000. 68.16% of the stock is owned by hedge funds and other institutional investors.

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.