Leerink Partners Boosts ARS Pharmaceuticals (NASDAQ:SPRY) Price Target to $20.00

ARS Pharmaceuticals (NASDAQ:SPRY) had its target price boosted by equities researchers at Leerink Partners from $19.00 to $20.00 in a report issued on Monday, August 12th, MarketBeat Ratings reports. The brokerage presently has an “outperform” rating on the stock. Leerink Partners’ price target suggests a potential upside of 51.52% from the stock’s current price.

Separately, Raymond James began coverage on shares of ARS Pharmaceuticals in a research report on Thursday, July 25th. They set an “outperform” rating and a $18.00 price target for the company. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $22.75.

ARS Pharmaceuticals Stock Up 1.9 %

Shares of NASDAQ:SPRY traded up $0.24 during midday trading on Monday, hitting $13.20. 876,687 shares of the stock traded hands, compared to its average volume of 715,928. The stock has a market capitalization of $1.28 billion, a PE ratio of -24.92 and a beta of 0.87. The business’s 50 day moving average is $10.43 and its two-hundred day moving average is $9.36. ARS Pharmaceuticals has a one year low of $2.55 and a one year high of $16.50.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted 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 firm had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $2.00 million. As a group, sell-side analysts forecast that ARS Pharmaceuticals will post -0.66 earnings per share for the current year.

Insider Activity

In other news, CEO Richard E. Lowenthal sold 4,138 shares of ARS Pharmaceuticals stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $9.00, for a total value of $37,242.00. Following the sale, the chief executive officer now directly owns 1,594,328 shares of the company’s stock, valued at $14,348,952. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Richard E. Lowenthal sold 4,138 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $9.00, for a total value of $37,242.00. Following the completion of the sale, the chief executive officer now directly owns 1,594,328 shares in the company, valued at $14,348,952. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sarina Tanimoto sold 95,862 shares of ARS Pharmaceuticals stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $9.15, for a total transaction of $877,137.30. Following the transaction, the insider now directly owns 1,546,494 shares of the company’s stock, valued at $14,150,420.10. The disclosure for this sale can be found here. Insiders have sold 949,700 shares of company stock worth $12,043,376 in the last three months. Company insiders own 40.10% of the company’s stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. RA Capital Management L.P. raised its holdings in shares of ARS Pharmaceuticals by 14.8% in the first quarter. RA Capital Management L.P. now owns 10,860,977 shares of the company’s stock valued at $110,999,000 after acquiring an additional 1,401,299 shares in the last quarter. Vanguard Group Inc. increased its position in ARS Pharmaceuticals by 37.0% during the 1st quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock valued at $29,500,000 after purchasing an additional 779,969 shares during the period. ClariVest Asset Management LLC bought a new stake in shares of ARS Pharmaceuticals in the 1st quarter valued at about $2,790,000. Jacobs Levy Equity Management Inc. lifted its position in shares of ARS Pharmaceuticals by 1,280.5% in 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 during the period. Finally, Franklin Resources Inc. boosted its stake in shares of ARS Pharmaceuticals by 5.9% during the fourth quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock valued at $22,460,000 after purchasing an additional 229,988 shares in the last quarter. 68.16% of the stock is currently 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.