Raymond James Financial Inc. Takes $6.58 Million Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Raymond James Financial Inc. purchased a new position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 623,281 shares of the company’s stock, valued at approximately $6,576,000.

Other institutional investors have also made changes to their positions in the company. Stifel Financial Corp acquired a new position in ARS Pharmaceuticals in the third quarter worth approximately $199,000. Barclays PLC raised its holdings in shares of ARS Pharmaceuticals by 189.7% during the 3rd quarter. Barclays PLC now owns 111,666 shares of the company’s stock valued at $1,618,000 after purchasing an additional 73,127 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of ARS Pharmaceuticals by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company’s stock valued at $17,909,000 after purchasing an additional 38,927 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in ARS Pharmaceuticals by 10.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company’s stock worth $217,000 after purchasing an additional 1,962 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in ARS Pharmaceuticals by 93.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 344,171 shares of the company’s stock worth $3,631,000 after buying an additional 165,950 shares during the last quarter. 68.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

ARS Pharmaceuticals Stock Down 4.1 %

SPRY stock opened at $14.38 on Thursday. ARS Pharmaceuticals, Inc. has a twelve month low of $7.55 and a twelve month high of $18.51. The company has a market cap of $1.41 billion, a PE ratio of -28.20 and a beta of 0.86. The business’s 50-day simple moving average is $12.43 and its 200 day simple moving average is $13.07.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings data on Thursday, March 20th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.56. The firm had revenue of $86.58 million during the quarter, compared to the consensus estimate of $15.46 million. On average, equities research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock in a transaction that occurred 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 directly owns 7,696 shares of the company’s stock, valued at approximately $107,744. The trade was a 56.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Laura Shawver sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 210,346 shares of the company’s stock, valued at approximately $2,589,359.26. The trade was a 19.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,602 shares of company stock valued at $1,926,541 in the last 90 days. 40.10% of the stock is currently owned by company insiders.

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.