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

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have been given a consensus rating of “Buy” by the six brokerages that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $24.00.

A number of equities research analysts have weighed in on the stock. William Blair upgraded shares of ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Leerink Partners upped their target price on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price target on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th.

ARS Pharmaceuticals Trading Down 3.2 %

Shares of NASDAQ:SPRY opened at $10.79 on Monday. The firm has a market capitalization of $1.05 billion, a PE ratio of -21.16 and a beta of 0.88. ARS Pharmaceuticals has a 1-year low of $5.19 and a 1-year high of $18.51. The business’s 50 day moving average is $13.91 and its 200-day moving average is $12.51.

Insider Buying and Selling

In related news, CEO Richard E. Lowenthal sold 100,000 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $13.83, for a total transaction of $1,383,000.00. Following the sale, the chief executive officer now directly owns 1,346,494 shares in the company, valued at $18,622,012.02. This represents a 6.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Laura Shawver sold 14,772 shares of ARS Pharmaceuticals stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $13.75, for a total value of $203,115.00. Following the completion of the transaction, the director now owns 210,346 shares of the company’s stock, valued at approximately $2,892,257.50. The trade was a 6.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,258,058 shares of company stock worth $19,369,686 in the last quarter. 40.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Turn Management LLC bought a new position in ARS Pharmaceuticals in the 3rd quarter worth approximately $8,603,000. Jacobs Levy Equity Management Inc. raised its position in shares of ARS Pharmaceuticals by 78.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company’s stock worth $9,469,000 after acquiring an additional 288,021 shares during the last quarter. Miura Global Management LLC acquired a new position in shares of ARS Pharmaceuticals during the third quarter valued at $3,915,000. Wexford Capital LP bought a new position in ARS Pharmaceuticals in the third quarter valued at about $3,601,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in ARS Pharmaceuticals by 766.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 234,537 shares of the company’s stock worth $3,401,000 after purchasing an additional 207,456 shares during the period. Institutional investors and hedge funds 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.