ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Insider Sells $140,000.00 in Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Eric Karas sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $14.00, for a total transaction of $140,000.00. Following the completion of the sale, the insider now owns 5,693 shares in the company, valued at approximately $79,702. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Eric Karas also recently made the following trade(s):

• On Monday, August 19th, Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock. The shares were sold at an average price of $14.00, for a total value of $140,000.00.

ARS Pharmaceuticals Trading Down 0.6 %

Shares of SPRY stock opened at $14.77 on Friday. ARS Pharmaceuticals, Inc. has a 1-year low of $2.75 and a 1-year high of $16.50. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -28.40 and a beta of 0.90. The stock has a 50-day moving average of $12.03 and a 200-day moving average of $10.06.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The business had revenue of $0.50 million for the quarter, compared to analyst estimates of $2.00 million. Sell-side analysts forecast that ARS Pharmaceuticals, Inc. will post -0.66 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $18.00 to $22.00 in a report on Tuesday, August 13th. William Blair raised ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a research report on Monday, September 16th. Finally, Leerink Partners upped their price target on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $24.00.

Hedge Funds Weigh In On ARS Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. J.W. Cole Advisors Inc. grew its holdings in ARS Pharmaceuticals by 10.8% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 15,400 shares of the company’s stock worth $131,000 after acquiring an additional 1,500 shares during the period. Levin Capital Strategies L.P. boosted its position in shares of ARS Pharmaceuticals by 5.7% during the 1st quarter. Levin Capital Strategies L.P. now owns 55,250 shares of the company’s stock valued at $565,000 after purchasing an additional 3,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in ARS Pharmaceuticals by 151.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock worth $63,000 after purchasing an additional 4,472 shares during the period. Russell Investments Group Ltd. bought a new stake in ARS Pharmaceuticals in the first quarter worth approximately $60,000. Finally, FAS Wealth Partners Inc. lifted its stake in ARS Pharmaceuticals by 11.9% in the second quarter. FAS Wealth Partners Inc. now owns 67,656 shares of the company’s stock valued at $576,000 after buying an additional 7,186 shares during the period. Institutional investors and hedge funds 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.