ARS Pharmaceuticals (NASDAQ:SPRY) Stock Price Up 5.5% – What’s Next?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) was up 5.5% during trading on Thursday . The company traded as high as $11.39 and last traded at $11.47. Approximately 487,982 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 1,304,041 shares. The stock had previously closed at $10.87.

Analysts Set New Price Targets

Several equities research analysts recently commented on SPRY shares. William Blair reaffirmed an “outperform” rating on shares of ARS Pharmaceuticals in a research report on Monday. Leerink Partners boosted their target price on ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Oppenheimer assumed coverage on shares of ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an “outperform” rating and a $40.00 target price for the company. Finally, Raymond James upped their price objective on 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 investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $28.80.

ARS Pharmaceuticals Stock Up 2.0 %

The company has a market cap of $1.08 billion, a P/E ratio of -21.69 and a beta of 0.99. The firm’s 50 day moving average is $11.89 and its two-hundred day moving average is $13.19.

Insider Transactions at ARS Pharmaceuticals

In other news, insider Sarina Tanimoto sold 100,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $13.16, for a total value of $1,316,000.00. Following the completion of the sale, the insider now directly owns 1,148,499 shares of the company’s stock, valued at $15,114,246.84. This represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Laura Shawver sold 50,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.10, for a total value of $555,000.00. Following the completion of the sale, the director now directly owns 210,346 shares of the company’s stock, valued at $2,334,840.60. The trade was a 19.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 402,272 shares of company stock valued at $5,001,400 over the last ninety days. 40.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in ARS Pharmaceuticals in the fourth quarter worth $27,000. KLP Kapitalforvaltning AS purchased a new position in ARS Pharmaceuticals in the fourth quarter valued at approximately $73,000. BNP Paribas Financial Markets purchased a new position in shares of ARS Pharmaceuticals during the 4th quarter valued at $75,000. Ball & Co Wealth Management Inc. purchased a new stake in shares of ARS Pharmaceuticals during the 4th quarter valued at approximately $105,000. Finally, Compass Capital Corp MA ADV purchased a new position in ARS Pharmaceuticals in the 4th quarter valued at approximately $106,000. 68.16% of the stock is owned by institutional investors.

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.