ARS Pharmaceuticals (NASDAQ:SPRY) Now Covered by Analysts at Cantor Fitzgerald

Analysts at Cantor Fitzgerald initiated coverage on shares of ARS Pharmaceuticals (NASDAQ:SPRY) in a report released on Tuesday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $30.00 price target on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 127.27% from the stock’s current price. Cantor Fitzgerald also issued estimates for ARS Pharmaceuticals’ FY2024 earnings at ($0.66) EPS.

Several other equities research analysts have also recently commented on the stock. Leerink Partners boosted their price objective on shares of ARS Pharmaceuticals from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $18.00 to $22.00 in a research report on Tuesday, August 13th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $22.75.

ARS Pharmaceuticals Stock Performance

ARS Pharmaceuticals stock traded up $0.24 during trading hours on Tuesday, reaching $13.20. 876,687 shares of the company’s stock traded hands, compared to its average volume of 715,928. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -24.92 and a beta of 0.87. ARS Pharmaceuticals has a fifty-two week low of $2.55 and a fifty-two week high of $16.50. The firm’s 50 day moving average is $10.43 and its 200-day moving average is $9.36.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $0.50 million during the quarter, compared to the consensus estimate of $2.00 million. Analysts predict that ARS Pharmaceuticals will post -0.66 EPS for the current year.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, CEO Richard E. Lowenthal sold 4,138 shares of ARS Pharmaceuticals stock in a transaction dated Tuesday, June 11th. The shares were 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 owns 1,594,328 shares in the company, valued at approximately $14,348,952. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other ARS Pharmaceuticals news, CEO Richard E. Lowenthal sold 4,138 shares of ARS Pharmaceuticals 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 transaction, the chief executive officer now directly owns 1,594,328 shares of the company’s stock, valued at approximately $14,348,952. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kathleen D. Scott sold 12,500 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $16.00, for a total value of $200,000.00. Following the sale, the chief financial officer now directly owns 13,199 shares in the company, valued at $211,184. The disclosure for this sale can be found here. Insiders have sold a total of 949,700 shares of company stock valued at $12,043,376 in the last ninety days. 40.10% of the stock is currently owned by corporate insiders.

Institutional Trading of ARS Pharmaceuticals

Several large investors have recently bought and sold shares of the business. RA Capital Management L.P. grew its holdings 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 worth $110,999,000 after purchasing an additional 1,401,299 shares during the last quarter. Vanguard Group Inc. increased its position in ARS Pharmaceuticals by 37.0% in the 1st quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock valued at $29,500,000 after acquiring an additional 779,969 shares during the period. ClariVest Asset Management LLC acquired a new position in ARS Pharmaceuticals in the 1st quarter valued at approximately $2,790,000. Jacobs Levy Equity Management Inc. raised its stake 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 acquiring an additional 257,589 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings 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 worth $22,460,000 after purchasing an additional 229,988 shares during the period. 68.16% of the stock is owned by institutional investors and hedge funds.

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.