ARS Pharmaceuticals Receives Outperform Rating from William Blair

ARS Pharmaceuticals (NASDAQ:SPRY) had its "outperform" rating reaffirmed by William Blair in a report released on Monday, indicating confidence in the company's stock performance.

Analyst Insights on ARS Pharmaceuticals

In addition to William Blair's reaffirmation, several other research firms have also expressed positive views on ARS Pharmaceuticals. Oppenheimer initiated coverage on ARS Pharmaceuticals on February 10, setting a target price of $40.00 along with an "outperform" rating. Similarly, Raymond James increased their price target from $26.00 to $28.00 while providing a "strong-buy" rating on January 14. Furthermore, Leerink Partners raised their target on ARS Pharmaceuticals from $26.00 to $27.00, continuing to endorse an "outperform" rating in their report dated January 13. In total, six analysts have issued a buy rating for the stock, with one giving it a strong buy endorsement. According to MarketBeat, ARS Pharmaceuticals holds an average rating of "Buy" and an average price target of $28.80.

Recent Stock Performance

On Monday, ARS Pharmaceuticals saw its stock price decline by 0.8%, dropping to $10.40 during midday trading. The trading volume reached 75,168 shares, significantly lower than the average volume of 1,286,163 shares. Over the past year, the stock has hit a low of $7.55 and a high of $18.51. With a market capitalization of $1.01 billion, the company has a price-to-earnings ratio of -20.25 and a beta value of 0.99. Currently, the stock's fifty-day moving average stands at $11.93, while the two-hundred-day moving average is at $13.24.

Insider Selling Activity

In related news, there have been significant transactions involving company insiders. Sarina Tanimoto, an insider, sold 100,000 shares on December 10 at an average price of $13.16, resulting in a total transaction value of $1,316,000. Following this sale, she now owns 1,148,499 shares, which are valued at approximately $15.11 million, indicating a decrease of 8.01% in her holdings. Additionally, Director Laura Shawver sold 50,000 shares on February 3 at an average price of $12.31, which represented a total value of $615,500. After this transaction, her remaining shares are valued at about $2.59 million, reflecting a 19.21% decrease in her holdings. Overall, insiders sold a total of 462,044 shares totaling $5.8 million in the last quarter, with 40.1% of the stock currently owned by insiders.

Institutional Investor Activity

Recent actions by institutional investors have also impacted the stock. Notably, Bernard Wealth Management Corp. purchased a new position in ARS Pharmaceuticals, valued at approximately $27,000 during the fourth quarter. Meanwhile, KLP Kapitalforvaltning AS and BNP Paribas Financial Markets also acquired new shares in positions valued at $73,000 and $75,000, respectively. Ball & Co Wealth Management Inc. and Compass Capital Corp MA ADV also bought stakes worth about $105,000 and $106,000, respectively. Currently, institutional investors and hedge funds hold a combined total of 68.16% of ARS Pharmaceuticals stock.

Company Overview

ARS Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing treatments for severe allergic reactions. One of its key products under development is Neffy, an innovative needle-free intranasal epinephrine spray designed for the emergency treatment of Type I allergic reactions, including anaphylaxis. The company caters to healthcare professionals, patients, and caregivers, aiming to enhance the management of allergic emergencies.

Pharmaceuticals, Investment, Analysis