ARS Pharmaceuticals (NASDAQ:SPRY) Reaches New 12-Month High – What’s Next?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $17.04 and last traded at $16.86, with a volume of 19635 shares trading hands. The stock had previously closed at $16.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SPRY shares. Leerink Partners raised their target price on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Raymond James upgraded shares of 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 report on Tuesday, August 13th. William Blair raised shares of ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price target on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $24.00.

ARS Pharmaceuticals Trading Up 1.0 %

The company has a fifty day moving average of $13.61 and a two-hundred day moving average of $10.82.

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

Insider Activity

In related news, CFO Kathleen D. Scott sold 12,500 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $16.00, for a total transaction of $200,000.00. Following the completion of the transaction, the chief financial officer now owns 13,199 shares in the company, valued at $211,184. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other ARS Pharmaceuticals news, CFO Kathleen D. Scott sold 12,500 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $16.00, for a total value of $200,000.00. Following the completion of the sale, the chief financial officer now directly owns 13,199 shares of the company’s stock, valued at $211,184. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sarina Tanimoto sold 100,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.88, for a total transaction of $1,488,000.00. Following the completion of the transaction, the insider now owns 1,298,499 shares in the company, valued at $19,321,665.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,055,895 shares of company stock valued at $14,619,032. 40.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. J.W. Cole Advisors Inc. grew its holdings in ARS Pharmaceuticals by 10.8% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 15,400 shares of the company’s stock worth $131,000 after acquiring an additional 1,500 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of ARS Pharmaceuticals in the 3rd quarter worth approximately $30,000. Creative Planning boosted its stake in shares of ARS Pharmaceuticals by 7.0% during the third quarter. Creative Planning now owns 35,263 shares of the company’s stock valued at $511,000 after purchasing an additional 2,307 shares in the last quarter. Levin Capital Strategies L.P. increased its holdings in ARS Pharmaceuticals by 5.7% during the first quarter. Levin Capital Strategies L.P. now owns 55,250 shares of the company’s stock valued at $565,000 after buying an additional 3,000 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in ARS Pharmaceuticals by 151.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock worth $63,000 after buying an additional 4,472 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.