Cantor Fitzgerald Reiterates “Overweight” Rating for ARS Pharmaceuticals (NASDAQ:SPRY)

Cantor Fitzgerald restated their overweight rating on shares of ARS Pharmaceuticals (NASDAQ:SPRY) in a research report report published on Monday, Benzinga reports. The brokerage currently has a $30.00 price objective on the stock.

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

ARS Pharmaceuticals Stock Performance

SPRY opened at $14.86 on Monday. ARS Pharmaceuticals has a fifty-two week low of $2.55 and a fifty-two week high of $16.50. The company’s 50-day moving average is $11.88 and its 200 day moving average is $9.97.

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

Insider Transactions at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Eric Karas sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $14.00, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In other ARS Pharmaceuticals news, insider Sarina Tanimoto sold 100,000 shares of the firm’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 transaction of $962,000.00. Following the sale, the insider now owns 1,496,494 shares in the company, valued at approximately $14,396,272.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $14.00, for a total transaction of $140,000.00. Following the transaction, the insider now directly owns 5,693 shares in the company, valued at approximately $79,702. The disclosure for this sale can be found here. Insiders have sold a total of 1,043,395 shares of company stock worth $13,650,032 in the last ninety days. Insiders own 40.10% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. RA Capital Management L.P. raised its stake in ARS Pharmaceuticals by 14.8% during the 1st 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. raised 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 buying an additional 229,988 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of ARS Pharmaceuticals by 37.0% in the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock worth $29,500,000 after buying an additional 779,969 shares in the last quarter. ClariVest Asset Management LLC boosted 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 worth $2,447,000 after acquiring an additional 14,640 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in 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 in the last quarter. 68.16% of the stock is 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.