Janney Montgomery Scott LLC Boosts Stock Position in ARS Pharmaceuticals, Inc. $SPRY

Key Points

• Janney Montgomery Scott LLC has increased its stock position in ARS Pharmaceuticals by 31.8%, owning approximately 0.60% of the company, valued at $10.32 million.
• Insider sales included CEO Richard E. Lowenthal selling 50,000 shares for $724,500, while CFO Kathleen D. Scott sold 12,500 shares for $187,500, indicating a decrease in their holdings.
• Research analysts have mixed views on ARS Pharmaceuticals, with ratings ranging from a Strong Buy to a Sell, and a current consensus target price of $33.17.

Janney Montgomery Scott LLC increased its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 31.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 591,425 shares of the company's stock after purchasing an additional 142,756 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.60% of ARS Pharmaceuticals worth $10,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. ANTIPODES PARTNERS Ltd bought a new stake in shares of ARS Pharmaceuticals in the first quarter worth about $37,000. PNC Financial Services Group Inc. grew its stake in shares of ARS Pharmaceuticals by 78,100.0% in the first quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company's stock worth $49,000 after purchasing an additional 3,905 shares during the last quarter. AQR Capital Management LLC purchased a new position in ARS Pharmaceuticals during the 1st quarter valued at $140,000. Foster & Motley Inc. purchased a new position in ARS Pharmaceuticals during the 1st quarter valued at $186,000. Finally, Oppenheimer & Co. Inc. purchased a new position in ARS Pharmaceuticals during the 1st quarter valued at $189,000. 68.16% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Richard E. Lowenthal sold 50,000 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $14.49, for a total transaction of $724,500.00. Following the completion of the sale, the chief executive officer owned 1,196,494 shares of the company's stock, valued at $17,337,198.06. This represents a 4.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kathleen D. Scott sold 12,500 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $15.00, for a total transaction of $187,500.00. Following the sale, the chief financial officer directly owned 10,042 shares of the company's stock, valued at $150,630. The trade was a 55.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,500 shares of company stock valued at $1,615,759 in the last quarter. 33.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on SPRY shares. Wall Street Zen downgraded shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Weiss Ratings reissued a "sell (d-)" rating on shares of ARS Pharmaceuticals in a research report on Saturday, September 27th. Roth Capital started coverage on shares of ARS Pharmaceuticals in a research report on Thursday, September 4th. They set a "buy" rating and a $40.00 price objective on the stock. Finally, Raymond James Financial set a $32.00 price objective on shares of ARS Pharmaceuticals in a research report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, ARS Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.17.

ARS Pharmaceuticals Price Performance

SPRY opened at $10.31 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.98 and a current ratio of 6.17. The stock has a market capitalization of $1.02 billion, a P/E ratio of -21.04 and a beta of 0.84. The company's 50-day simple moving average is $12.90 and its two-hundred day simple moving average is $14.21. ARS Pharmaceuticals, Inc. has a 52-week low of $9.34 and a 52-week high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.05). The company had revenue of $15.72 million for the quarter, compared to the consensus estimate of $12.92 million. ARS Pharmaceuticals had a negative net margin of 42.74% and a negative return on equity of 21.85%. As a group, analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

ARS Pharmaceuticals 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.

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