ARS Pharmaceuticals (NASDAQ:SPRY) Now Covered by Oppenheimer

Oppenheimer began coverage on shares of ARS Pharmaceuticals (NASDAQ:SPRY) in a research report report published on Monday, MarketBeat Ratings reports. The firm issued an outperform rating and a $40.00 price target on the stock.

A number of other brokerages have also recently commented on SPRY. Leerink Partners lifted 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. Raymond James lifted their price objective on ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 14th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $28.80.

ARS Pharmaceuticals Price Performance

Shares of NASDAQ SPRY opened at $11.74 on Monday. The stock has a market capitalization of $1.14 billion, a P/E ratio of -23.02 and a beta of 0.99. ARS Pharmaceuticals has a one year low of $6.70 and a one year high of $18.51. The firm’s 50 day simple moving average is $12.29 and its two-hundred day simple moving average is $13.18.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, COO Brian Dorsey sold 25,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $12.30, for a total value of $307,500.00. Following the completion of the sale, the chief operating officer now owns 6,024 shares in the company, valued at approximately $74,095.20. This trade represents a 80.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Laura Shawver sold 14,772 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $13.75, for a total value of $203,115.00. Following the transaction, the director now directly owns 210,346 shares in the company, valued at $2,892,257.50. This trade represents a 6.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 617,102 shares of company stock valued at $7,935,840 in the last quarter. Company insiders own 40.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SPRY. nVerses Capital LLC bought a new stake in shares of ARS Pharmaceuticals in the 3rd quarter worth approximately $30,000. Compass Capital Corp MA ADV purchased a new stake in shares of ARS Pharmaceuticals during the fourth quarter valued at $106,000. Quarry LP bought a new stake in ARS Pharmaceuticals in the 3rd quarter worth about $174,000. SBI Securities Co. Ltd. purchased a new position in ARS Pharmaceuticals in the 4th quarter worth about $175,000. Finally, TFG Advisers LLC bought a new position in ARS Pharmaceuticals during the 3rd quarter valued at about $180,000. Hedge funds and other institutional investors 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.