ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives $26.00 Consensus Target Price from Analysts

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has earned an average rating of “Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $26.00.

SPRY has been the topic of several research analyst reports. Raymond James boosted their target price on ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 14th. Leerink Partners upped their price target on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th.

ARS Pharmaceuticals Stock Performance

SPRY opened at $13.89 on Friday. ARS Pharmaceuticals has a 52-week low of $6.13 and a 52-week high of $18.51. The stock has a market capitalization of $1.35 billion, a PE ratio of -27.24 and a beta of 0.96. The stock’s 50 day moving average price is $12.45 and its 200-day moving average price is $12.94.

Insiders Place Their Bets

In other ARS Pharmaceuticals news, Director Laura Shawver sold 50,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.10, for a total value of $555,000.00. Following the sale, the director now directly owns 210,346 shares of the company’s stock, valued at approximately $2,334,840.60. The trade was a 19.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sarina Tanimoto sold 100,000 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $11.67, for a total value of $1,167,000.00. Following the completion of the sale, the insider now directly owns 1,098,499 shares in the company, valued at $12,819,483.33. This trade represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,095,558 shares of company stock valued at $16,853,686. 40.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp lifted its holdings in shares of ARS Pharmaceuticals by 10.4% during the third quarter. State Street Corp now owns 2,049,542 shares of the company’s stock valued at $29,718,000 after purchasing an additional 193,321 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of ARS Pharmaceuticals by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company’s stock valued at $17,909,000 after purchasing an additional 38,927 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of ARS Pharmaceuticals by 7.1% during the third quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock valued at $10,026,000 after purchasing an additional 45,755 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of ARS Pharmaceuticals by 78.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company’s stock valued at $9,469,000 after purchasing an additional 288,021 shares in the last quarter. Finally, First Turn Management LLC bought a new position in shares of ARS Pharmaceuticals during the third quarter valued at $8,603,000. 68.16% of the stock is owned by institutional investors.

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.