ARS Pharmaceuticals (NASDAQ:SPRY) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of ARS Pharmaceuticals (NASDAQ:SPRY) in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has a $30.00 target price on the stock.

SPRY has been the subject of several other research reports. Leerink Partners increased their target price on ARS Pharmaceuticals from $19.00 to $20.00 and gave the company an outperform rating in a research note on Monday, August 12th. William Blair raised ARS Pharmaceuticals to a strong-buy rating in a research report on Friday, August 30th. Finally, Raymond James raised shares of ARS Pharmaceuticals from an outperform rating to a strong-buy rating and boosted their target price for the stock from $18.00 to $22.00 in a research report on Tuesday, August 13th. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $22.75.

ARS Pharmaceuticals Stock Performance

Shares of ARS Pharmaceuticals stock opened at $14.86 on Monday. The firm has a fifty day simple moving average of $11.88 and a 200-day simple moving average of $9.97. ARS Pharmaceuticals has a 1-year low of $2.55 and a 1-year high of $16.50.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced 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 company had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $2.00 million. Equities research analysts anticipate that ARS Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ARS Pharmaceuticals news, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock in a transaction on Monday, August 19th. The shares were sold at an average price of $14.00, for a total transaction of $140,000.00. Following the sale, the insider now owns 5,693 shares in the company, valued at $79,702. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other ARS Pharmaceuticals news, CEO Richard E. Lowenthal sold 100,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $12.93, for a total transaction of $1,293,000.00. Following the sale, the chief executive officer now owns 1,398,499 shares of the company’s stock, valued at approximately $18,082,592.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock in a transaction on Monday, August 19th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the sale, the insider now directly owns 5,693 shares of the company’s stock, valued at $79,702. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,043,395 shares of company stock worth $13,650,032. 40.10% of the stock is currently owned by company insiders.

Institutional Trading of ARS Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. J.W. Cole Advisors Inc. boosted its holdings in ARS Pharmaceuticals by 10.8% during the second quarter. J.W. Cole Advisors Inc. now owns 15,400 shares of the company’s stock worth $131,000 after purchasing an additional 1,500 shares during the last quarter. Levin Capital Strategies L.P. boosted its stake in ARS Pharmaceuticals by 5.7% in 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in ARS Pharmaceuticals by 151.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock worth $63,000 after purchasing an additional 4,472 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in ARS Pharmaceuticals during the 1st quarter worth $60,000. Finally, FAS Wealth Partners Inc. grew its holdings in shares of ARS Pharmaceuticals by 11.9% during the second quarter. FAS Wealth Partners Inc. now owns 67,656 shares of the company’s stock worth $576,000 after purchasing an additional 7,186 shares during the last quarter. Institutional investors own 68.16% of the company’s stock.

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.