ARS Pharmaceuticals (NASDAQ:SPRY) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of ARS Pharmaceuticals (NASDAQ:SPRY) in a research report released on Tuesday morning, Benzinga reports. They currently have a $30.00 target price on the stock.

Several other analysts also recently issued reports on SPRY. William Blair upgraded ARS Pharmaceuticals to a strong-buy rating in a research note on Friday, August 30th. Raymond James raised shares of ARS Pharmaceuticals from an outperform rating to a strong-buy rating and raised their price target for the stock from $18.00 to $22.00 in a research report on Tuesday, August 13th. Finally, Leerink Partners boosted their price objective on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an outperform rating in a report on Friday, September 20th. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, ARS Pharmaceuticals currently has an average rating of Buy and a consensus target price of $24.00.

ARS Pharmaceuticals Price Performance

Shares of SPRY opened at $14.52 on Tuesday. The company’s 50-day moving average is $13.02 and its 200-day moving average is $10.60. The firm has a market capitalization of $1.41 billion, a PE ratio of -27.92 and a beta of 0.91. ARS Pharmaceuticals has a fifty-two week low of $3.35 and a fifty-two week high of $16.50.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate 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. Analysts predict that ARS Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ARS Pharmaceuticals news, CEO Richard E. Lowenthal sold 100,000 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $11.40, for a total transaction of $1,140,000.00. Following the sale, the chief executive officer now directly owns 1,547,447 shares in the company, valued at $17,640,895.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other ARS Pharmaceuticals news, CEO Richard E. Lowenthal sold 100,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $11.40, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Karas sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the sale, the insider now directly owns 5,693 shares in the company, valued at approximately $79,702. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,043,395 shares of company stock worth $14,071,032. Company insiders own 40.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. RA Capital Management L.P. grew its holdings in shares of ARS Pharmaceuticals by 14.8% during the 1st quarter. RA Capital Management L.P. now owns 10,860,977 shares of the company’s stock valued at $110,999,000 after purchasing an additional 1,401,299 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of ARS Pharmaceuticals by 37.0% during the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock worth $29,500,000 after buying an additional 779,969 shares during the last quarter. ClariVest Asset Management LLC increased its holdings in shares of ARS Pharmaceuticals by 5.4% during the second quarter. ClariVest Asset Management LLC now owns 287,596 shares of the company’s stock worth $2,447,000 after buying an additional 14,640 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of ARS Pharmaceuticals by 1,280.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 277,706 shares of the company’s stock valued at $2,838,000 after acquiring an additional 257,589 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of ARS Pharmaceuticals by 99.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 139,285 shares of the company’s stock valued at $1,185,000 after acquiring an additional 69,394 shares in the last quarter. 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.