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

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have been given a consensus recommendation of “Buy” by the seven analysts that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $28.80.

SPRY has been the topic of several recent analyst reports. Raymond James increased their target price on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 14th. Oppenheimer initiated coverage on shares of ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an “outperform” rating and a $40.00 target price on the stock. Finally, Leerink Partners increased their price target on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, January 13th.

ARS Pharmaceuticals Price Performance

NASDAQ SPRY opened at $12.02 on Tuesday. ARS Pharmaceuticals has a 1 year low of $6.70 and a 1 year high of $18.51. The stock has a market capitalization of $1.17 billion, a PE ratio of -23.57 and a beta of 0.99. The company’s 50 day simple moving average is $12.11 and its two-hundred day simple moving average is $13.19.

Insider Transactions at ARS Pharmaceuticals

In related news, Director Laura Shawver sold 50,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.31, for a total transaction of $615,500.00. Following the transaction, the director now owns 210,346 shares of the company’s stock, valued at approximately $2,589,359.26. This trade represents a 19.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Justin Chakma sold 32,814 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $14.00, for a total transaction of $459,396.00. Following the transaction, the insider now directly owns 203,566 shares in the company, valued at approximately $2,849,924. This represents a 13.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 617,102 shares of company stock valued at $7,935,840 in the last quarter. Insiders own 40.10% of the company’s stock.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in SPRY. nVerses Capital LLC bought a new position in shares of ARS Pharmaceuticals during the 3rd quarter valued at $30,000. KLP Kapitalforvaltning AS purchased a new stake in ARS Pharmaceuticals during the 4th quarter valued at $73,000. Compass Capital Corp MA ADV purchased a new stake in ARS Pharmaceuticals during the 4th quarter valued at $106,000. Teacher Retirement System of Texas purchased a new stake in ARS Pharmaceuticals during the 4th quarter valued at $122,000. Finally, Freestone Grove Partners LP purchased a new stake in ARS Pharmaceuticals during the 4th quarter valued at $132,000. Institutional investors 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.