ARS Pharmaceuticals (NASDAQ:SPRY) Earns Outperform Rating from Analysts at Raymond James

Raymond James began coverage on shares of ARS Pharmaceuticals (NASDAQ:SPRY) in a research report report published on Thursday, Marketbeat reports. The brokerage issued an outperform rating and a $18.00 price target on the stock.

ARS Pharmaceuticals Stock Performance

ARS Pharmaceuticals stock opened at $10.98 on Thursday. The stock’s 50 day simple moving average is $9.31 and its two-hundred day simple moving average is $8.59. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -21.12 and a beta of 0.87. ARS Pharmaceuticals has a fifty-two week low of $2.55 and a fifty-two week high of $11.90.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). On average, analysts predict that ARS Pharmaceuticals will post -0.6 earnings per share for the current year.

Insider Buying and Selling at ARS Pharmaceuticals

In related news, CEO Richard E. Lowenthal sold 100,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $11.40, for a total transaction of $1,140,000.00. Following the transaction, the chief executive officer now owns 1,547,447 shares in the company, valued at $17,640,895.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other ARS Pharmaceuticals news, CEO Richard E. Lowenthal sold 100,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $11.40, for a total value of $1,140,000.00. Following the transaction, the chief executive officer now directly owns 1,547,447 shares in the company, valued at $17,640,895.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sarina Tanimoto sold 5,757 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $9.01, for a total transaction of $51,870.57. Following the sale, the insider now owns 1,644,574 shares in the company, valued at $14,817,611.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 500,000 shares of company stock worth $4,856,040. Company insiders own 40.10% of the company’s stock.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several institutional investors have recently bought and sold shares of SPRY. Denali Advisors LLC purchased a new position in shares of ARS Pharmaceuticals in the 4th quarter worth $480,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of ARS Pharmaceuticals by 352.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,105 shares of the company’s stock worth $61,000 after purchasing an additional 8,652 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of ARS Pharmaceuticals by 22,300.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the company’s stock worth $31,000 after purchasing an additional 5,575 shares during the period. AJOVista LLC purchased a new position in shares of ARS Pharmaceuticals during the 4th quarter worth about $43,000. Finally, Franklin Resources Inc. lifted its holdings in ARS Pharmaceuticals by 5.9% during the 4th quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock valued at $22,460,000 after buying an additional 229,988 shares in the last quarter. 68.16% of the stock is owned by hedge funds and other institutional investors.

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.