ARS Pharmaceuticals (NASDAQ:SPRY) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of ARS Pharmaceuticals (NASDAQ:SPRY) in a report issued on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $30.00 price objective on the stock. Cantor Fitzgerald also issued estimates for ARS Pharmaceuticals’ FY2024 earnings at ($0.66) EPS.

SPRY has been the topic of a number of other reports. SVB Leerink raised their target price on ARS Pharmaceuticals from $19.00 to $20.00 and gave the company an outperform rating in a research note on Monday, August 12th. Raymond James upgraded shares of ARS Pharmaceuticals from an outperform rating to a strong-buy rating and increased their price objective for the company from $18.00 to $22.00 in a report on Tuesday, August 13th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ARS Pharmaceuticals presently has an average rating of Buy and a consensus price target of $22.75.

ARS Pharmaceuticals Stock Performance

NASDAQ:SPRY opened at $12.81 on Tuesday. The stock has a 50-day simple moving average of $10.27 and a 200 day simple moving average of $9.25. ARS Pharmaceuticals has a one year low of $2.55 and a one year high of $16.50. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -24.63 and a beta of 0.87.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The business had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $2.00 million. On average, equities research analysts forecast that ARS Pharmaceuticals will post -0.66 EPS for the current fiscal year.

Insider Activity

In other ARS Pharmaceuticals news, CEO Richard E. Lowenthal sold 4,138 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $9.00, for a total transaction of $37,242.00. Following the sale, the chief executive officer now owns 1,594,328 shares in the company, valued at approximately $14,348,952. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Richard E. Lowenthal sold 4,138 shares of the company’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 transaction, the chief executive officer now directly owns 1,594,328 shares of the company’s stock, valued at $14,348,952. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard E. Lowenthal sold 100,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $15.03, for a total transaction of $1,503,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,497,447 shares of the company’s stock, valued at $22,506,628.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 472,500 shares of company stock worth $5,609,379. Insiders own 40.10% of the company’s stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several large investors have recently made changes to their positions in SPRY. Vanguard Group Inc. lifted its stake in shares of ARS Pharmaceuticals by 37.0% in the 1st quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock valued at $29,500,000 after purchasing an additional 779,969 shares during the last quarter. ClariVest Asset Management LLC acquired a new stake in ARS Pharmaceuticals in the 1st quarter valued at approximately $2,790,000. SG Americas Securities LLC increased its position in ARS Pharmaceuticals by 861.5% during the second quarter. SG Americas Securities LLC now owns 111,592 shares of the company’s stock worth $950,000 after acquiring an additional 99,986 shares during the period. GSA Capital Partners LLP boosted its holdings in ARS Pharmaceuticals by 11.7% in the 1st quarter. GSA Capital Partners LLP now owns 128,889 shares of the company’s stock valued at $1,317,000 after purchasing an additional 13,545 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of ARS Pharmaceuticals by 5.9% in the fourth quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock valued at $22,460,000 after buying an additional 229,988 shares during the period. Institutional investors own 68.16% of the company’s stock.

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.