Several other research firms have also recently commented on SPRY. Leerink Partners lifted 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 stock a "strong-buy" rating in a research report on Tuesday, January 14th. Finally, Oppenheimer assumed coverage on ARS Pharmaceuticals in a research report on Monday, February 10th. They issued an "outperform" rating and a $40.00 price target on the stock. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $28.80.
View Our Latest Stock Report on SPRY
Shares of SPRY traded down $0.54 during mid-day trading on Friday, reaching $11.24. The company had a trading volume of 1,380,737 shares, compared to its average volume of 1,297,939. The company's 50-day moving average is $12.02 and its 200-day moving average is $13.22. ARS Pharmaceuticals has a twelve month low of $7.50 and a twelve month high of $18.51. The company has a market capitalization of $1.09 billion, a P/E ratio of -22.04 and a beta of 0.99.
In other news, insider Sarina Tanimoto sold 100,000 shares of the company's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $13.16, for a total transaction of $1,316,000.00. Following the completion of the transaction, the insider now directly owns 1,148,499 shares in the company, valued at approximately $15,114,246.84. This represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Laura Shawver sold 14,772 shares of the company's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $13.75, for a total transaction of $203,115.00. Following the transaction, the director now owns 210,346 shares of the company's stock, valued at $2,892,257.50. This trade represents a 6.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 617,102 shares of company stock worth $7,935,840 over the last quarter. Company insiders own 40.10% of the company's stock.
Several institutional investors have recently modified their holdings of the stock. KLP Kapitalforvaltning AS acquired a new stake in ARS Pharmaceuticals in the fourth quarter valued at $73,000. BNP Paribas Financial Markets acquired a new stake in ARS Pharmaceuticals in the fourth quarter valued at $75,000. Ball & Co Wealth Management Inc. acquired a new stake in ARS Pharmaceuticals in the fourth quarter valued at $105,000. Compass Capital Corp MA ADV acquired a new stake in ARS Pharmaceuticals in the fourth quarter valued at $106,000. Finally, Teacher Retirement System of Texas acquired a new stake in ARS Pharmaceuticals in the fourth quarter valued at $122,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.
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.
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