ARS Pharmaceuticals (NASDAQ:SPRY) Shares Gap Up to $8.21

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $8.21, but opened at $8.44. ARS Pharmaceuticals shares last traded at $8.56, with a volume of 50,615 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SPRY shares. Wedbush reiterated an “outperform” rating and issued a $19.00 price target on shares of ARS Pharmaceuticals in a report on Monday, March 11th. Leerink Partnrs raised ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 5th. William Blair upgraded ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 20th. Finally, SVB Leerink upgraded shares of ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $6.00 to $18.00 in a report on Tuesday, March 5th.

ARS Pharmaceuticals Trading Up 6.2 %

The firm has a 50-day simple moving average of $8.77 and a 200-day simple moving average of $6.34.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its earnings results on Thursday, March 21st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.07. On average, equities research analysts forecast that ARS Pharmaceuticals, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at ARS Pharmaceuticals

In related news, CEO Richard E. Lowenthal sold 3,782 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $9.02, for a total transaction of $34,113.64. Following the completion of the sale, the chief executive officer now owns 1,746,494 shares of the company’s stock, valued at $15,753,375.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Richard E. Lowenthal sold 3,782 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $9.02, for a total transaction of $34,113.64. Following the transaction, the chief executive officer now directly owns 1,746,494 shares of the company’s stock, valued at $15,753,375.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Sarina Tanimoto sold 98,778 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $9.02, for a total value of $890,977.56. Following the transaction, the insider now directly owns 1,747,294 shares in the company, valued at $15,760,591.88. The disclosure for this sale can be found here. Insiders have sold a total of 503,260 shares of company stock valued at $4,612,480 in the last 90 days. Insiders own 35.60% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. RA Capital Management L.P. lifted its stake in shares of ARS Pharmaceuticals by 214.3% during the third quarter. RA Capital Management L.P. now owns 9,459,678 shares of the company’s stock worth $35,758,000 after buying an additional 6,450,000 shares during the period. Charles Schwab Trust Co acquired a new position in shares of ARS Pharmaceuticals in the third quarter valued at about $16,050,000. Franklin Resources Inc. raised its stake in shares of ARS Pharmaceuticals by 5.9% in the fourth quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock worth $22,460,000 after purchasing an additional 229,988 shares during the last quarter. Denali Advisors LLC acquired a new stake in shares of ARS Pharmaceuticals during the fourth quarter worth about $480,000. Finally, Letko Brosseau & Associates Inc. purchased a new stake in ARS Pharmaceuticals in the third quarter valued at approximately $136,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

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.