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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $11.92, but opened at $12.72. ARS Pharmaceuticals shares last traded at $11.90, with a volume of 109,499 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Oppenheimer assumed coverage on ARS Pharmaceuticals in a report on Monday. They set an “outperform” rating and a $40.00 price objective on the stock. Raymond James raised 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. Finally, Leerink Partners lifted 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. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $28.80.

ARS Pharmaceuticals Stock Down 1.6 %

The stock has a 50 day moving average of $12.24 and a 200 day moving average of $13.19.

Insider Buying and Selling

In other ARS Pharmaceuticals news, Director Laura Shawver sold 50,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Monday, February 3rd. The stock was 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 in the company, valued at $2,589,359.26. The trade was a 19.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Justin Chakma sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $14.39, for a total value of $359,750.00. Following the transaction, the insider now owns 136,380 shares of the company’s stock, valued at approximately $1,962,508.20. This represents a 15.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 617,102 shares of company stock worth $7,935,840. Corporate insiders own 40.10% of the company’s stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its position in shares of ARS Pharmaceuticals by 2.9% during the 4th 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 last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of ARS Pharmaceuticals by 10.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company’s stock valued at $217,000 after acquiring an additional 1,962 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of ARS Pharmaceuticals during the 3rd quarter valued at $30,000. LPL Financial LLC lifted its position in shares of ARS Pharmaceuticals by 11.4% during the 4th quarter. LPL Financial LLC now owns 21,408 shares of the company’s stock valued at $226,000 after acquiring an additional 2,190 shares during the last quarter. Finally, Creative Planning lifted its position in shares of ARS Pharmaceuticals by 7.0% during the 3rd quarter. Creative Planning now owns 35,263 shares of the company’s stock valued at $511,000 after acquiring an additional 2,307 shares during the last quarter. 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.