ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives Average Recommendation of “Buy” from Brokerages

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has earned an average rating of “Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $31.00.

A number of equities research analysts have recently issued reports on SPRY shares. Oppenheimer initiated coverage on shares of ARS Pharmaceuticals in a research report on Monday, February 10th. They set an “outperform” rating and a $40.00 price target for the company. Leerink Partners lifted their price objective on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, January 13th. William Blair reissued an “outperform” rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Scotiabank initiated coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They set a “sector outperform” rating and a $30.00 price target for the company. Finally, Raymond James boosted their price objective on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 14th.

ARS Pharmaceuticals Trading Down 0.7 %

Shares of SPRY stock opened at $11.87 on Friday. The stock has a 50 day simple moving average of $11.97 and a 200-day simple moving average of $13.07. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -23.27 and a beta of 1.04. ARS Pharmaceuticals has a 12-month low of $7.55 and a 12-month high of $18.51.

Insider Activity at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Sarina Tanimoto sold 100,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $11.67, for a total value of $1,167,000.00. Following the completion of the sale, the insider now directly owns 1,098,499 shares of the company’s stock, valued at approximately $12,819,483.33. The trade was a 8.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Laura Shawver sold 49,600 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $11.21, for a total value of $556,016.00. Following the completion of the transaction, the director now owns 210,346 shares of the company’s stock, valued at $2,357,978.66. This trade represents a 19.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 249,600 shares of company stock valued at $2,893,516 over the last quarter. Insiders own 40.10% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPRY. Bernard Wealth Management Corp. acquired a new stake in shares of ARS Pharmaceuticals in the fourth quarter worth approximately $27,000. KLP Kapitalforvaltning AS purchased a new position in ARS Pharmaceuticals during the fourth quarter worth approximately $73,000. BNP Paribas Financial Markets acquired a new position in shares of ARS Pharmaceuticals in the 4th quarter valued at $75,000. Ball & Co Wealth Management Inc. purchased a new stake in shares of ARS Pharmaceuticals during the 4th quarter valued at $105,000. Finally, Compass Capital Corp MA ADV acquired a new stake in shares of ARS Pharmaceuticals during the 4th quarter worth $106,000. Hedge funds and other 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.