ARS Pharmaceuticals (NASDAQ:SPRY) Given New $25.00 Price Target at Leerink Partners

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

A number of other research analysts also recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price objective on shares of ARS Pharmaceuticals in a research note on Monday, September 16th. William Blair raised ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $18.00 to $22.00 in a research note on Tuesday, August 13th. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $24.00.

ARS Pharmaceuticals Stock Performance

Shares of NASDAQ SPRY opened at $14.77 on Friday. The business’s 50-day simple moving average is $12.03 and its 200-day simple moving average is $10.06. ARS Pharmaceuticals has a 52 week low of $2.75 and a 52 week high of $16.50. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -28.40 and a beta of 0.90.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued 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 company had revenue of $0.50 million during the quarter, compared to analyst estimates of $2.00 million. As a group, equities research analysts forecast that ARS Pharmaceuticals will post -0.66 earnings per share for the current year.

Insiders Place Their Bets

In other ARS Pharmaceuticals news, insider Sarina Tanimoto sold 100,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $9.62, for a total value of $962,000.00. Following the transaction, the insider now directly owns 1,496,494 shares of the company’s stock, valued at approximately $14,396,272.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Peter A. Thompson sold 83,695 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $13.00, for a total transaction of $1,088,035.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sarina Tanimoto sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $9.62, for a total value of $962,000.00. Following the sale, the insider now owns 1,496,494 shares in the company, valued at $14,396,272.28. The disclosure for this sale can be found here. Insiders have sold a total of 1,043,395 shares of company stock valued at $13,650,032 in the last three months. Company insiders own 40.10% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. RA Capital Management L.P. increased its position in shares of ARS Pharmaceuticals by 14.8% during 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 purchasing an additional 1,401,299 shares during the period. Franklin Resources Inc. increased its position 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 during the period. Vanguard Group Inc. increased its position in shares of ARS Pharmaceuticals by 37.0% during the first 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 increased its position in shares of ARS Pharmaceuticals by 5.4% during the second quarter. ClariVest Asset Management LLC now owns 287,596 shares of the company’s stock valued at $2,447,000 after purchasing an additional 14,640 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of ARS Pharmaceuticals by 1,280.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 277,706 shares of the company’s stock valued at $2,838,000 after purchasing an additional 257,589 shares during the period. 68.16% of the stock is currently owned by 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.