ARS Pharmaceuticals (NASDAQ:SPRY) Shares Up 5.5% – Still a Buy?

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

Wall Street Analyst Weigh In

Several brokerages have commented on SPRY. William Blair reissued an “outperform” rating on shares of ARS Pharmaceuticals in a report on Monday. Oppenheimer initiated coverage on shares of ARS Pharmaceuticals in a report on Monday, February 10th. They issued an “outperform” rating and a $40.00 price target on the stock. Leerink Partners raised their price objective on ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Finally, Raymond James increased their price target on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 14th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $28.80.

ARS Pharmaceuticals Stock Up 2.0 %

The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -21.69 and a beta of 0.99. The business’s 50-day moving average is $11.89 and its 200-day moving average is $13.19.

Insiders Place Their Bets

In other ARS Pharmaceuticals news, Director Laura Shawver sold 50,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.31, for a total value of $615,500.00. Following the completion of the transaction, the director now directly owns 210,346 shares of the company’s stock, valued at approximately $2,589,359.26. This trade represents a 19.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sarina Tanimoto sold 100,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 1,148,499 shares of the company’s stock, valued at $15,114,246.84. The trade was a 8.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 402,272 shares of company stock valued at $5,001,400 over the last quarter. 40.10% of the stock is owned by insiders.

Institutional Trading of ARS Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its stake in ARS Pharmaceuticals by 0.6% in the fourth quarter. Wellington Management Group LLP now owns 163,252 shares of the company’s stock valued at $1,722,000 after purchasing an additional 917 shares in the last quarter. Rhumbline Advisers boosted its position in shares of ARS Pharmaceuticals by 2.9% in the fourth quarter. Rhumbline Advisers now owns 65,163 shares of the company’s stock valued at $687,000 after acquiring an additional 1,824 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of ARS Pharmaceuticals by 10.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company’s stock valued at $217,000 after purchasing an additional 1,962 shares during the period. Mariner LLC boosted its holdings in ARS Pharmaceuticals by 5.8% in the fourth quarter. Mariner LLC now owns 35,908 shares of the company’s stock valued at $379,000 after acquiring an additional 1,972 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in ARS Pharmaceuticals by 11.4% in the fourth quarter. LPL Financial LLC now owns 21,408 shares of the company’s stock valued at $226,000 after buying an additional 2,190 shares during the period. 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.