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

Oppenheimer started coverage on shares of ARS Pharmaceuticals (NASDAQ:SPRY) in a research note released on Monday morning, Marketbeat.com reports. The firm issued an outperform rating and a $40.00 price objective on the stock.

A number of other brokerages have also issued reports on SPRY. Raymond James lifted their price target on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 14th. Leerink Partners lifted their price target on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, ARS Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $28.80.

ARS Pharmaceuticals Trading Up 0.7 %

Shares of NASDAQ:SPRY opened at $11.63 on Monday. The company has a fifty day simple moving average of $12.19 and a 200 day simple moving average of $13.17. The firm has a market cap of $1.13 billion, a PE ratio of -22.80 and a beta of 0.99. ARS Pharmaceuticals has a 12-month low of $6.70 and a 12-month high of $18.51.

Insider Transactions at ARS Pharmaceuticals

In other news, Director Laura Shawver sold 50,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.31, for a total transaction of $615,500.00. Following the completion of the transaction, the director now owns 210,346 shares in the company, valued at approximately $2,589,359.26. This represents a 19.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Justin Chakma sold 32,814 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $14.00, for a total transaction of $459,396.00. Following the transaction, the insider now owns 203,566 shares of the company’s stock, valued at $2,849,924. This represents a 13.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 617,102 shares of company stock worth $7,935,840. Insiders own 40.10% of the company’s stock.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. ExodusPoint Capital Management LP bought a new position in shares of ARS Pharmaceuticals during the fourth quarter worth about $260,000. Geode Capital Management LLC grew its position in shares of ARS Pharmaceuticals by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,238,156 shares of the company’s stock worth $13,066,000 after acquiring an additional 3,351 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of ARS Pharmaceuticals by 5,168.4% during the fourth quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company’s stock worth $40,942,000 after acquiring an additional 3,807,074 shares during the last quarter. Wellington Management Group LLP lifted its holdings in ARS Pharmaceuticals by 0.6% in the fourth quarter. Wellington Management Group LLP now owns 163,252 shares of the company’s stock worth $1,722,000 after purchasing an additional 917 shares during the period. Finally, AssuredPartners Investment Advisors LLC acquired a new stake in ARS Pharmaceuticals in the fourth quarter worth about $312,000. Institutional investors own 68.16% of the company’s stock.

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.