ARS Pharmaceuticals (NASDAQ:SPRY) Price Target Raised to $25.00 at Leerink Partners

ARS Pharmaceuticals (NASDAQ:SPRY) had its target price upped by Leerink Partners from $21.00 to $25.00 in a report issued on Friday morning, Benzinga reports. Leerink Partners currently has an outperform rating on the stock.

Several other equities analysts also recently weighed in on SPRY. Raymond James upgraded ARS Pharmaceuticals from an outperform rating to a strong-buy rating and lifted their target price for the company from $18.00 to $22.00 in a research report on Tuesday, August 13th. William Blair upgraded ARS Pharmaceuticals to a strong-buy rating in a research report on Friday, August 30th. Finally, Cantor Fitzgerald reiterated an overweight rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a research report on Monday, September 16th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of Buy and a consensus target price of $24.00.

ARS Pharmaceuticals Price Performance

SPRY stock opened at $14.77 on Friday. The company has a market cap of $1.43 billion, a P/E ratio of -28.40 and a beta of 0.90. ARS Pharmaceuticals has a 1 year low of $2.75 and a 1 year high of $16.50. The stock’s fifty day moving average price is $12.03 and its 200-day moving average price is $10.07.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The firm had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $2.00 million. As a group, analysts expect that ARS Pharmaceuticals will post -0.66 earnings per share for the current year.

Insider Activity

In other news, CEO Richard E. Lowenthal sold 100,000 shares of the business’s 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 transaction, the chief executive officer now directly owns 1,547,447 shares in the company, valued at $17,640,895.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Richard E. Lowenthal sold 100,000 shares of the business’s 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 transaction, the chief executive officer now directly owns 1,547,447 shares in the company, valued at $17,640,895.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brian Dorsey sold 50,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $15.00, for a total value of $750,000.00. Following the completion of the transaction, the chief operating officer now owns 6,024 shares in the company, valued at $90,360. The disclosure for this sale can be found here. Insiders have sold 1,043,395 shares of company stock worth $13,650,032 over the last ninety days. Corporate insiders own 40.10% of the company’s stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of ARS Pharmaceuticals by 37.0% in the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock worth $29,500,000 after buying an additional 779,969 shares in the last quarter. ClariVest Asset Management LLC purchased a new stake in shares of ARS Pharmaceuticals in the first quarter worth about $2,790,000. SG Americas Securities LLC lifted its position in shares of ARS Pharmaceuticals by 861.5% in the second quarter. SG Americas Securities LLC now owns 111,592 shares of the company’s stock worth $950,000 after buying an additional 99,986 shares in the last quarter. GSA Capital Partners LLP lifted 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 buying an additional 13,545 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of ARS Pharmaceuticals by 5.9% in the fourth quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock worth $22,460,000 after buying an additional 229,988 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.