ARS Pharmaceuticals (NASDAQ:SPRY) PT Raised to $25.00

ARS Pharmaceuticals (NASDAQ:SPRY) had its target price hoisted by analysts at Leerink Partners from $21.00 to $25.00 in a report released on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners’ target price would suggest a potential upside of 69.26% from the stock’s previous close.

A number of other equities research analysts have also issued reports on SPRY. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a research report on Monday, September 16th. Raymond James upgraded ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $18.00 to $22.00 in a report on Tuesday, August 13th. Finally, William Blair upgraded shares of ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ARS Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $24.00.

ARS Pharmaceuticals Price Performance

Shares of NASDAQ:SPRY opened at $14.77 on Friday. ARS Pharmaceuticals has a 12 month low of $2.75 and a 12 month high of $16.50. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -28.40 and a beta of 0.90. The stock’s 50 day moving average price is $12.03 and its 200 day moving average price is $10.06.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its earnings results on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The company had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $2.00 million. On average, sell-side analysts expect that ARS Pharmaceuticals will post -0.66 EPS for the current year.

Insider Activity at ARS Pharmaceuticals

In related news, insider Eric Karas sold 10,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the sale, 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 can be accessed through this hyperlink. In related news, insider Eric Karas sold 10,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the sale, 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 can be accessed through this hyperlink. Also, CEO Richard E. Lowenthal sold 100,000 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $11.40, for a total value of $1,140,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,547,447 shares of the company’s stock, valued at $17,640,895.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,043,395 shares of company stock valued at $13,650,032. Company insiders own 40.10% of the company’s stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several hedge funds have recently bought and sold shares of SPRY. RA Capital Management L.P. lifted its stake in ARS Pharmaceuticals by 14.8% in the 1st quarter. RA Capital Management L.P. now owns 10,860,977 shares of the company’s stock worth $110,999,000 after acquiring an additional 1,401,299 shares in the last quarter. Vanguard Group Inc. raised 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 in the last quarter. ClariVest Asset Management LLC purchased a new stake in shares of ARS Pharmaceuticals during the 1st quarter worth about $2,790,000. Jacobs Levy Equity Management Inc. raised its stake in shares of ARS Pharmaceuticals by 1,280.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 277,706 shares of the company’s stock worth $2,838,000 after purchasing an additional 257,589 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of ARS Pharmaceuticals by 5.9% during the 4th quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock worth $22,460,000 after purchasing an additional 229,988 shares in the last quarter. 68.16% of the stock is 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.