ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have been assigned a consensus rating of “Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $28.80.

SPRY has been the subject of a number of analyst reports. Oppenheimer initiated coverage on ARS Pharmaceuticals in a research report on Monday, February 10th. They issued an “outperform” rating and a $40.00 price target for 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. Finally, Raymond James increased their price target on ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 14th.

ARS Pharmaceuticals Trading Up 0.8 %

NASDAQ SPRY opened at $12.02 on Tuesday. The firm has a market capitalization of $1.17 billion, a P/E ratio of -23.57 and a beta of 0.99. The business has a fifty day simple moving average of $12.11 and a 200 day simple moving average of $13.19. ARS Pharmaceuticals has a 12 month low of $6.70 and a 12 month high of $18.51.

Insider Activity

In related news, COO Brian Dorsey sold 25,000 shares of ARS Pharmaceuticals stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $12.30, for a total value of $307,500.00. Following the completion of the sale, the chief operating officer now owns 6,024 shares of the company’s stock, valued at approximately $74,095.20. This trade represents a 80.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Justin Chakma sold 32,814 shares of ARS Pharmaceuticals stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $14.00, for a total value of $459,396.00. Following the completion of the sale, the insider now directly owns 203,566 shares of the company’s stock, valued at approximately $2,849,924. This trade represents a 13.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 617,102 shares of company stock valued at $7,935,840 in the last ninety days. 40.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its holdings in ARS Pharmaceuticals by 5,168.4% in the 4th quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company’s stock worth $40,942,000 after acquiring an additional 3,807,074 shares during the last quarter. Vanguard Group Inc. increased its holdings in ARS Pharmaceuticals by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company’s stock worth $36,555,000 after acquiring an additional 115,656 shares during the last quarter. State Street Corp boosted its stake in ARS Pharmaceuticals by 10.4% in the 3rd quarter. State Street Corp now owns 2,049,542 shares of the company’s stock worth $29,718,000 after purchasing an additional 193,321 shares during the period. Geode Capital Management LLC grew its holdings in ARS Pharmaceuticals by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,238,156 shares of the company’s stock valued at $13,066,000 after buying an additional 3,351 shares in the last quarter. Finally, Royce & Associates LP grew its holdings in ARS Pharmaceuticals by 34.4% during the 4th quarter. Royce & Associates LP now owns 929,613 shares of the company’s stock valued at $9,807,000 after buying an additional 238,158 shares in the last quarter. Hedge funds and other institutional investors own 68.16% of the company’s stock.

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.