Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY – Get Free Report) rose 3.1% during mid-day trading on Wednesday . The stock traded as high as $13.48 and last traded at $13.46. Approximately 31,859 shares changed hands during trading, a decline of 96% from the average daily volume of 734,624 shares. The stock had previously closed at $13.05.
Analysts Set New Price Targets
SPRY has been the topic of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of ARS Pharmaceuticals in a research report on Monday. Leerink Partners increased their price target on shares of ARS Pharmaceuticals from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Raymond James raised shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $18.00 to $22.00 in a report on Tuesday, August 13th. Finally, William Blair raised ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $22.75.
Check Out Our Latest Research Report on ARS Pharmaceuticals
ARS Pharmaceuticals Stock Performance
ARS Pharmaceuticals (NASDAQ:SPRY – Get Free Report) 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 firm had revenue of $0.50 million for the quarter, compared to analyst estimates of $2.00 million. Equities analysts forecast that ARS Pharmaceuticals, Inc. will post -0.66 EPS for the current year.
Insider Buying and Selling at ARS Pharmaceuticals
In other news, insider Eric Karas sold 10,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $14.00, for a total transaction of $140,000.00. Following the completion of the transaction, the insider now directly owns 5,693 shares of the company’s stock, valued at approximately $79,702. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Sarina Tanimoto sold 100,000 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $9.62, for a total value of $962,000.00. Following the completion of the transaction, the insider now owns 1,496,494 shares in the company, valued at approximately $14,396,272.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Karas sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $14.00, for a total transaction of $140,000.00. Following the completion of the sale, the insider now owns 5,693 shares of the company’s stock, valued at approximately $79,702. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 933,395 shares of company stock valued at $12,217,032. 40.10% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. J.W. Cole Advisors Inc. boosted its stake in shares of ARS Pharmaceuticals by 10.8% during the 2nd 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 in the last quarter. Levin Capital Strategies L.P. boosted its position in ARS Pharmaceuticals by 5.7% during the first quarter. Levin Capital Strategies L.P. now owns 55,250 shares of the company’s stock worth $565,000 after purchasing an additional 3,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in ARS Pharmaceuticals by 151.7% during the second 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 in the last quarter. Russell Investments Group Ltd. acquired a new stake in ARS Pharmaceuticals in the first quarter valued at $60,000. Finally, FAS Wealth Partners Inc. increased its position in shares of ARS Pharmaceuticals by 11.9% in the second quarter. FAS Wealth Partners Inc. now owns 67,656 shares of the company’s stock valued at $576,000 after buying an additional 7,186 shares in the last quarter. 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.
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