ARS Pharmaceuticals (NASDAQ:SPRY) Posts Quarterly Earnings Results, Meets Estimates

ARS Pharmaceuticals (NASDAQ:SPRY) announced its quarterly earnings data on Wednesday. The company reported ($0.35) earnings per share for the quarter, meeting the consensus estimate of ($0.35), Zacks reports. The company had revenue of $7.97 million for the quarter, compared to analyst estimates of $7.48 million.

ARS Pharmaceuticals Price Performance

SPRY opened at $12.19 on Friday. The firm has a market capitalization of $1.20 billion, a PE ratio of -23.90 and a beta of 0.84. ARS Pharmaceuticals has a fifty-two week low of $7.55 and a fifty-two week high of $18.51. The company’s 50-day moving average is $13.30 and its 200 day moving average is $12.90.

Insider Transactions at ARS Pharmaceuticals

In other news, insider Eric Karas sold 10,000 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the sale, the insider now owns 7,696 shares in the company, valued at $107,744. This represents a 56.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Laura Shawver sold 49,600 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $11.21, for a total transaction of $556,016.00. Following the completion of the sale, the director now owns 210,346 shares of the company’s stock, valued at approximately $2,357,978.66. This represents a 19.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,602 shares of company stock valued at $1,311,041 over the last ninety days. 33.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

A hedge fund recently bought a new stake in ARS Pharmaceuticals stock. AQR Capital Management LLC purchased a new stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,116 shares of the company’s stock, valued at approximately $140,000. Institutional investors own 68.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Scotiabank began coverage on ARS Pharmaceuticals in a research report on Friday, March 7th. They set a “sector outperform” rating and a $30.00 target price on the stock. Finally, Oppenheimer began coverage on ARS Pharmaceuticals in a research report on Monday, February 10th. They set an “outperform” rating and a $40.00 target price on the stock. Five research 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 currently has an average rating of “Buy” and a consensus price target of $31.00.

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.