ARS Pharmaceuticals (NASDAQ:SPRY) Stock Rating Upgraded by Raymond James

ARS Pharmaceuticals (NASDAQ:SPRY) was upgraded by equities researchers at Raymond James from an “outperform” rating to a “strong-buy” rating in a report issued on Tuesday, MarketBeat.com reports. The firm currently has a $22.00 price target on the stock, up from their previous price target of $18.00. Raymond James’ target price suggests a potential upside of 69.23% from the company’s current price.

Separately, SVB Leerink increased their price target on shares of ARS Pharmaceuticals from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $20.33.

ARS Pharmaceuticals Price Performance

NASDAQ SPRY opened at $13.00 on Tuesday. ARS Pharmaceuticals has a 12 month low of $2.55 and a 12 month high of $13.39. The firm’s 50-day moving average is $9.77 and its two-hundred day moving average is $8.99. The stock has a market capitalization of $1.26 billion, a P/E ratio of -25.00 and a beta of 0.87.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The company had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $2.00 million. As a group, analysts anticipate that ARS Pharmaceuticals will post -0.63 EPS for the current year.

Insider Buying and Selling at ARS Pharmaceuticals

In related news, CEO Richard E. Lowenthal sold 100,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $11.40, for a total value of $1,140,000.00. Following the sale, the chief executive officer now directly owns 1,547,447 shares in the company, valued at approximately $17,640,895.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Richard E. Lowenthal sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $11.40, for a total value of $1,140,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,547,447 shares in the company, valued at $17,640,895.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sarina Tanimoto sold 95,862 shares of ARS Pharmaceuticals stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $9.15, for a total value of $877,137.30. Following the completion of the transaction, the insider now directly owns 1,546,494 shares in the company, valued at $14,150,420.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 300,000 shares of company stock valued at $3,016,379. 40.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. J.W. Cole Advisors Inc. increased its position in shares of ARS Pharmaceuticals by 10.8% during the second quarter. J.W. Cole Advisors Inc. now owns 15,400 shares of the company’s stock worth $131,000 after acquiring an additional 1,500 shares during the last quarter. Levin Capital Strategies L.P. grew its stake in ARS Pharmaceuticals by 5.7% during the 1st quarter. Levin Capital Strategies L.P. now owns 55,250 shares of the company’s stock valued at $565,000 after purchasing an additional 3,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in ARS Pharmaceuticals by 151.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock worth $63,000 after purchasing an additional 4,472 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of ARS Pharmaceuticals by 22,300.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the company’s stock valued at $31,000 after purchasing an additional 5,575 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of ARS Pharmaceuticals during the 1st quarter valued at approximately $60,000. 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.