ARS Pharmaceuticals (NASDAQ:SPRY) Trading 5.5% Higher - What's Next?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) shot up 5.5% during mid-day trading 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 research firms have issued reports on SPRY. Scotiabank began coverage on ARS Pharmaceuticals in a report on Friday. They set a "sector outperform" rating and a $30.00 price objective on the stock. Leerink Partners upped their target price on ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an "outperform" rating in a report on Monday, January 13th. Oppenheimer started coverage on ARS Pharmaceuticals in a report on Monday, February 10th. They issued an "outperform" rating and a $40.00 target price on the stock. William Blair reiterated an "outperform" rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Finally, Raymond James upped their target price on ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 14th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $29.00.

ARS Pharmaceuticals Stock Performance

The firm has a market cap of $1.05 billion, a P/E ratio of -21.24 and a beta of 1.03. The company has a 50 day moving average of $11.87 and a 200 day moving average of $13.11.

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Insider Activity at ARS Pharmaceuticals

In related news, COO Brian Dorsey sold 25,000 shares of the business's 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 of the company's stock, valued at approximately $74,095.20. The trade was a 80.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sarina Tanimoto sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The shares were 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 approximately $15,114,246.84. The trade was a 8.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 401,872 shares of company stock valued at $4,845,916. 40.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several large investors have recently made changes to their positions in SPRY. Bernard Wealth Management Corp. bought a new stake in ARS Pharmaceuticals during the fourth quarter worth approximately $27,000. KLP Kapitalforvaltning AS bought a new stake in ARS Pharmaceuticals during the fourth quarter worth approximately $73,000. BNP Paribas Financial Markets bought a new stake in ARS Pharmaceuticals during the fourth quarter worth approximately $75,000. Ball & Co Wealth Management Inc. bought a new stake in ARS Pharmaceuticals during the fourth quarter worth approximately $105,000. Finally, Compass Capital Corp MA ADV bought a new stake in ARS Pharmaceuticals during the fourth quarter worth approximately $106,000. 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.