AssuredPartners Investment Advisors LLC Buys Shares of 29,611 ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

AssuredPartners Investment Advisors LLC purchased a new position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 29,611 shares of the company’s stock, valued at approximately $312,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SPRY. Amica Mutual Insurance Co. purchased a new stake in shares of ARS Pharmaceuticals in the fourth quarter worth $151,000. JPMorgan Chase & Co. raised its holdings in shares of ARS Pharmaceuticals by 73.6% in the 4th quarter. JPMorgan Chase & Co. now owns 31,112 shares of the company’s stock valued at $328,000 after acquiring an additional 13,190 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of ARS Pharmaceuticals by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company’s stock valued at $36,555,000 after acquiring an additional 115,656 shares during the last quarter. LPL Financial LLC grew its holdings in shares of ARS Pharmaceuticals by 11.4% during the fourth quarter. LPL Financial LLC now owns 21,408 shares of the company’s stock worth $226,000 after purchasing an additional 2,190 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of ARS Pharmaceuticals in the fourth quarter worth approximately $73,000. 68.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on SPRY. Oppenheimer started coverage on shares of ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an “outperform” rating and a $40.00 price target for the company. Leerink Partners increased their target price on ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Raymond James raised their price target on ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 14th. Scotiabank initiated coverage on ARS Pharmaceuticals in a report on Friday, March 7th. They issued a “sector outperform” rating and a $30.00 price objective for the company. Finally, William Blair reissued an “outperform” rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $31.00.

Insiders Place Their Bets

In related news, insider Eric Karas sold 10,000 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the sale, the insider now directly owns 7,696 shares of the company’s stock, valued at $107,744. This trade represents a 56.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Laura Shawver sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.10, for a total value of $555,000.00. Following the transaction, the director now directly owns 210,346 shares of the company’s stock, valued at $2,334,840.60. The trade was a 19.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 159,600 shares of company stock valued at $1,866,516 in the last ninety days. Company insiders own 40.10% of the company’s stock.

ARS Pharmaceuticals Stock Down 1.1 %

Shares of NASDAQ:SPRY opened at $12.49 on Friday. The stock has a market cap of $1.23 billion, a PE ratio of -24.49 and a beta of 1.03. The company’s fifty day moving average is $12.15 and its 200 day moving average is $13.07. ARS Pharmaceuticals, Inc. has a 52 week low of $7.55 and a 52 week high of $18.51.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings data on Thursday, March 20th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.56. The company had revenue of $86.58 million during the quarter, compared to analysts’ expectations of $15.46 million. Sell-side analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

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.