ARS Pharmaceuticals (NASDAQ:SPRY) Earns Outperform Rating from Analysts at Raymond James

Raymond James began coverage on shares of ARS Pharmaceuticals (NASDAQ:SPRY) in a report published on Thursday morning, Marketbeat.com reports. The firm issued an outperform rating and a $18.00 price objective on the stock.

ARS Pharmaceuticals Trading Down 1.9 %

Shares of ARS Pharmaceuticals stock opened at $10.98 on Thursday. ARS Pharmaceuticals has a fifty-two week low of $2.55 and a fifty-two week high of $11.90. The stock has a 50 day moving average of $9.31 and a 200 day moving average of $8.57.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). Research analysts predict that ARS Pharmaceuticals will post -0.6 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Richard E. Lowenthal sold 5,147 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $9.05, for a total value of $46,580.35. Following the completion of the transaction, the chief executive officer now directly owns 1,642,193 shares in the company, valued at $14,861,846.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Richard E. Lowenthal sold 4,138 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $9.00, for a total transaction of $37,242.00. Following the completion of the transaction, the chief executive officer now directly owns 1,594,328 shares in the company, valued at $14,348,952. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Richard E. Lowenthal sold 5,147 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $9.05, for a total value of $46,580.35. Following the transaction, the chief executive officer now owns 1,642,193 shares of the company’s stock, valued at $14,861,846.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 500,000 shares of company stock worth $4,856,040. Company insiders own 40.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Levin Capital Strategies L.P. boosted its position in shares of ARS Pharmaceuticals by 5.7% during the first quarter. Levin Capital Strategies L.P. now owns 55,250 shares of the company’s stock worth $565,000 after buying an additional 3,000 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of ARS Pharmaceuticals by 22,300.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the company’s stock worth $31,000 after buying an additional 5,575 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of ARS Pharmaceuticals during the first quarter worth $60,000. China Universal Asset Management Co. Ltd. boosted its position in shares of ARS Pharmaceuticals by 66.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 18,453 shares of the company’s stock worth $189,000 after buying an additional 7,348 shares during the period. Finally, AJOVista LLC acquired a new stake in shares of ARS Pharmaceuticals in the fourth quarter valued at $43,000. 68.16% of the stock is currently 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.