ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives $24.00 Consensus Price Target from Brokerages

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have earned an average rating of “Buy” from the six analysts that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $24.00.

Several research analysts have recently issued reports on SPRY shares. Leerink Partners boosted their price objective on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. 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.

Insider Activity

In related news, CEO Richard E. Lowenthal sold 100,000 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 1,346,494 shares in the company, valued at $18,622,012.02. This trade represents a 6.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kathleen D. Scott sold 12,500 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $16.00, for a total value of $200,000.00. Following the completion of the sale, the chief financial officer now owns 4,949 shares in the company, valued at $79,184. This trade represents a 71.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,258,058 shares of company stock worth $19,369,686. Corporate insiders own 40.10% of the company’s stock.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in SPRY. First Turn Management LLC bought a new position in shares of ARS Pharmaceuticals in the third quarter valued at approximately $8,603,000. Jacobs Levy Equity Management Inc. increased its holdings in ARS Pharmaceuticals by 78.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company’s stock valued at $9,469,000 after purchasing an additional 288,021 shares in the last quarter. Miura Global Management LLC bought a new position in ARS Pharmaceuticals in the 3rd quarter valued at $3,915,000. Wexford Capital LP acquired a new position in ARS Pharmaceuticals in the third quarter worth $3,601,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of ARS Pharmaceuticals by 766.1% during 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 last quarter. 68.16% of the stock is owned by institutional investors.

ARS Pharmaceuticals Trading Down 3.2 %

Shares of SPRY stock opened at $10.79 on Monday. ARS Pharmaceuticals has a 1 year low of $5.19 and a 1 year high of $18.51. The firm’s fifty day simple moving average is $13.91 and its 200 day simple moving average is $12.53. The firm has a market capitalization of $1.05 billion, a P/E ratio of -21.16 and a beta of 0.88.

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.