Brokerages Set ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) PT at $26.00

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has earned an average recommendation of “Buy” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $26.00.

A number of research analysts have weighed in on SPRY shares. Raymond James increased their target price on ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 14th. Leerink Partners upped their price target on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price target on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th.

Insider Activity at ARS Pharmaceuticals

In related news, insider Justin Chakma sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $14.39, for a total transaction of $359,750.00. Following the completion of the sale, the insider now directly owns 136,380 shares of the company’s stock, valued at approximately $1,962,508.20. This trade represents a 15.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder James E. Flynn sold 528,456 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $18.04, for a total value of $9,533,346.24. Following the transaction, the insider now owns 5,274,735 shares in the company, valued at $95,156,219.40. The trade was a 9.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,095,558 shares of company stock valued at $16,853,686. Insiders own 40.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SPRY. nVerses Capital LLC purchased a new position in shares of ARS Pharmaceuticals in the 3rd quarter valued at $30,000. J.W. Cole Advisors Inc. increased its holdings in shares of ARS Pharmaceuticals by 10.8% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 15,400 shares of the company’s stock valued at $131,000 after acquiring an additional 1,500 shares during the period. Quarry LP purchased a new position in shares of ARS Pharmaceuticals in the 3rd quarter valued at $174,000. TFG Advisers LLC purchased a new position in shares of ARS Pharmaceuticals in the 3rd quarter valued at $180,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of ARS Pharmaceuticals in the 2nd quarter valued at $180,000. 68.16% of the stock is currently owned by hedge funds and other institutional investors.

ARS Pharmaceuticals Stock Performance

SPRY stock opened at $13.89 on Friday. ARS Pharmaceuticals has a fifty-two week low of $6.13 and a fifty-two week high of $18.51. The business’s 50-day moving average is $12.45 and its two-hundred day moving average is $12.94. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -27.24 and a beta of 0.96.

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.