Raymond James Financial Inc. Takes Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Raymond James Financial Inc. purchased a new position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) during the fourth quarter, HoldingsChannel reports. The fund purchased 623,281 shares of the company’s stock, valued at approximately $6,576,000.

Other large investors also recently added to or reduced their stakes in the company. Compass Capital Corp MA ADV purchased a new position in ARS Pharmaceuticals in the 4th quarter worth approximately $106,000. Quarry LP purchased a new position in ARS Pharmaceuticals in the 3rd quarter worth approximately $174,000. SBI Securities Co. Ltd. purchased a new position in ARS Pharmaceuticals in the 4th quarter worth approximately $175,000. Stifel Financial Corp purchased a new position in ARS Pharmaceuticals in the 3rd quarter worth approximately $199,000. Finally, Aigen Investment Management LP purchased a new position in ARS Pharmaceuticals in the 4th quarter worth approximately $216,000. 68.16% of the stock is owned by hedge funds and other institutional investors.

ARS Pharmaceuticals Stock Performance

NASDAQ:SPRY opened at $12.36 on Monday. The stock’s fifty day moving average is $12.06 and its 200 day moving average is $13.05. ARS Pharmaceuticals, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $18.51. The firm has a market capitalization of $1.20 billion, a PE ratio of -24.24 and a beta of 1.03.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings results on Thursday, March 20th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.56. The company had revenue of $86.58 million for the quarter, compared to analysts’ expectations of $15.46 million. Equities analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Insider Activity at ARS Pharmaceuticals

In related news, insider Eric Karas sold 10,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.00, for a total transaction of $140,000.00. Following the sale, the insider now owns 7,696 shares in the company, valued at approximately $107,744. This represents a 56.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Laura Shawver sold 50,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $12.31, for a total value of $615,500.00. Following the completion of the sale, the director now owns 210,346 shares in the company, valued at approximately $2,589,359.26. The trade was a 19.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,600 shares of company stock worth $1,866,516. Company insiders own 40.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Oppenheimer assumed coverage on ARS Pharmaceuticals in a report on Monday, February 10th. They issued an “outperform” rating and a $40.00 price target on the stock. Scotiabank assumed coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $30.00 price objective on the stock. William Blair reaffirmed an “outperform” rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Leerink Partners lifted their price objective on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. Finally, Raymond James lifted their price objective on ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 14th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ARS Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $31.00.

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.