ARS Pharmaceuticals (NASDAQ:SPRY) Now Covered by Analysts at Oppenheimer

Analysts at Oppenheimer initiated coverage on shares of ARS Pharmaceuticals (NASDAQ:SPRY) in a report released on Monday. The brokerage set an “outperform” rating and a $40.00 price target on the stock. Oppenheimer’s price objective would suggest a potential upside of 235.57% from the stock’s previous close.

SPRY has been the subject of a number of other reports. Leerink Partners upped their price target on ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Raymond James upped their target price on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 14th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, ARS Pharmaceuticals currently has an average rating of “Buy” and an average price target of $28.80.

ARS Pharmaceuticals Stock Down 6.9 %

Shares of ARS Pharmaceuticals stock opened at $11.92 on Monday. The business has a fifty day simple moving average of $12.32 and a 200 day simple moving average of $13.18. The stock has a market cap of $1.16 billion, a PE ratio of -23.37 and a beta of 0.99. ARS Pharmaceuticals has a 12 month low of $6.33 and a 12 month high of $18.51.

Insider Activity

In other news, Director Laura Shawver sold 14,772 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $13.75, for a total transaction of $203,115.00. Following the completion of the sale, the director now owns 210,346 shares of the company’s stock, valued at $2,892,257.50. This represents a 6.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Justin Chakma sold 25,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $14.39, for a total transaction of $359,750.00. Following the completion of the sale, the insider now directly owns 136,380 shares in the company, valued at $1,962,508.20. This represents a 15.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 617,102 shares of company stock worth $7,935,840 in the last 90 days. Corporate insiders own 40.10% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of SPRY. The Manufacturers Life Insurance Company bought a new position in shares of ARS Pharmaceuticals during the second quarter worth about $180,000. Creative Planning boosted its position in ARS Pharmaceuticals by 7.0% during the 3rd quarter. Creative Planning now owns 35,263 shares of the company’s stock worth $511,000 after acquiring an additional 2,307 shares during the last quarter. nVerses Capital LLC bought a new position in shares of ARS Pharmaceuticals during the 3rd quarter worth approximately $30,000. Raymond James & Associates acquired a new stake in shares of ARS Pharmaceuticals in the third quarter valued at approximately $2,969,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of ARS Pharmaceuticals in the third quarter worth $2,584,000. Institutional investors and hedge funds own 68.16% of the company’s stock.

About ARS Pharmaceuticals

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.