ARS Pharmaceuticals (NASDAQ:SPRY) Research Coverage Started at Oppenheimer

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

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

ARS Pharmaceuticals Stock Performance

SPRY opened at $11.63 on Monday. The company’s 50 day simple moving average is $12.19 and its 200 day simple moving average is $13.17. ARS Pharmaceuticals has a 1 year low of $6.70 and a 1 year high of $18.51. The stock has a market capitalization of $1.13 billion, a PE ratio of -22.80 and a beta of 0.99.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Justin Chakma sold 32,814 shares of ARS Pharmaceuticals stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.00, for a total transaction of $459,396.00. Following the transaction, the insider now directly owns 203,566 shares of the company’s stock, valued at $2,849,924. The trade was a 13.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Sarina Tanimoto sold 100,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $13.16, for a total transaction of $1,316,000.00. Following the transaction, the insider now directly owns 1,148,499 shares in the company, valued at approximately $15,114,246.84. This trade represents a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 617,102 shares of company stock valued at $7,935,840 over the last ninety days. Corporate insiders own 40.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. ExodusPoint Capital Management LP acquired a new position in shares of ARS Pharmaceuticals during the fourth quarter worth $260,000. Geode Capital Management LLC lifted 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 purchasing an additional 3,351 shares in the last quarter. Alliancebernstein L.P. lifted 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 purchasing an additional 3,807,074 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of ARS Pharmaceuticals by 0.6% during 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 in the last quarter. Finally, AssuredPartners Investment Advisors LLC acquired a new position in shares of ARS Pharmaceuticals during the fourth quarter worth $312,000. 68.16% of the stock is owned by institutional investors and hedge funds.

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.