ARS Pharmaceuticals (NASDAQ:SPRY) Shares Up 4.9% - Here's Why

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report)'s share price traded up 4.9% during trading on Friday . The stock traded as high as $14.99 and last traded at $15.10. 296,156 shares were traded during trading, a decline of 77% from the average session volume of 1,283,612 shares. The stock had previously closed at $14.40.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Scotiabank started coverage on shares of ARS Pharmaceuticals in a report on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 price target on the stock. William Blair reissued an "outperform" rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Finally, Wall Street Zen lowered shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

ARS Pharmaceuticals Stock Down 1.5%

The firm's 50-day moving average is $14.20 and its 200-day moving average is $12.83. The company has a market capitalization of $1.49 billion, a PE ratio of -29.73 and a beta of 0.84.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.35). The business had revenue of $7.97 million for the quarter, compared to analysts' expectations of $7.48 million. As a group, equities research analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Insider Buying and Selling at ARS Pharmaceuticals

In related news, Director Brent L. Saunders sold 120,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $14.25, for a total transaction of $1,710,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Laura Shawver sold 50,002 shares of the firm's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $12.30, for a total transaction of $615,024.60. Following the transaction, the director now directly owns 210,346 shares of the company's stock, valued at $2,587,255.80. The trade was a 19.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 332,971 shares of company stock valued at $4,621,888. Corporate insiders own 33.50% of the company's stock.

Institutional Trading of ARS Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. Bernard Wealth Management Corp. purchased a new stake in shares of ARS Pharmaceuticals during the 4th quarter valued at about $27,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of ARS Pharmaceuticals during the 1st quarter valued at about $37,000. GAMMA Investing LLC raised its position in shares of ARS Pharmaceuticals by 4,319.7% during the 1st quarter. GAMMA Investing LLC now owns 3,359 shares of the company's stock valued at $420,000 after buying an additional 3,283 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of ARS Pharmaceuticals by 78,100.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company's stock valued at $49,000 after buying an additional 3,905 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of ARS Pharmaceuticals during the 4th quarter valued at about $73,000. Hedge funds and other institutional investors own 68.16% of the company's stock.

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.