ARS Pharmaceuticals (NASDAQ:SPRY) Sets New 52-Week High – Should You Buy?

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) hit a new 52-week high on Tuesday . The company traded as high as $17.04 and last traded at $16.86, with a volume of 19635 shares trading hands. The stock had previously closed at $16.72.

Wall Street Analyst Weigh In

SPRY has been the subject of a number of recent research reports. Raymond James upgraded shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $18.00 to $22.00 in a report on Tuesday, August 13th. William Blair upgraded shares of ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Leerink Partners raised their target price on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, ARS Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $24.00.

ARS Pharmaceuticals Price Performance

The business’s 50 day moving average is $13.61 and its 200 day moving average is $10.82.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The firm had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $2.00 million. Analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.66 earnings per share for the current fiscal year.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, insider Sarina Tanimoto sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.88, for a total value of $1,488,000.00. Following the completion of the transaction, the insider now directly owns 1,298,499 shares in the company, valued at $19,321,665.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other ARS Pharmaceuticals news, CFO Kathleen D. Scott sold 12,500 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $16.00, for a total value of $200,000.00. Following the sale, the chief financial officer now directly owns 13,199 shares of the company’s stock, valued at approximately $211,184. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sarina Tanimoto sold 100,000 shares of ARS Pharmaceuticals stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $14.88, for a total value of $1,488,000.00. Following the transaction, the insider now owns 1,298,499 shares of the company’s stock, valued at $19,321,665.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,055,895 shares of company stock worth $14,619,032. 40.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of ARS Pharmaceuticals by 37.0% during the 1st quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock worth $29,500,000 after purchasing an additional 779,969 shares during the period. ClariVest Asset Management LLC acquired a new stake in ARS Pharmaceuticals during the first quarter valued at $2,790,000. SG Americas Securities LLC increased its holdings in ARS Pharmaceuticals by 861.5% in the second quarter. SG Americas Securities LLC now owns 111,592 shares of the company’s stock valued at $950,000 after buying an additional 99,986 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of ARS Pharmaceuticals by 11.7% in the first quarter. GSA Capital Partners LLP now owns 128,889 shares of the company’s stock worth $1,317,000 after acquiring an additional 13,545 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of ARS Pharmaceuticals by 99.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 139,285 shares of the company’s stock worth $1,185,000 after acquiring an additional 69,394 shares in the last quarter. 68.16% of the stock is currently owned by hedge funds and other institutional investors.

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.