ARS Pharmaceuticals (NASDAQ:SPRY) Issues Quarterly Earnings Results

ARS Pharmaceuticals (NASDAQ:SPRY) released its quarterly earnings results on Thursday. The company reported $0.52 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.56, Zacks reports. The firm had revenue of $86.58 million for the quarter, compared to analysts’ expectations of $15.46 million.

ARS Pharmaceuticals Stock Down 10.5 %

NASDAQ:SPRY traded down $1.50 on Friday, reaching $12.81. The company’s stock had a trading volume of 324,612 shares, compared to its average volume of 1,034,604. The stock has a 50 day moving average price of $12.04 and a 200 day moving average price of $13.04. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -25.04 and a beta of 1.03. ARS Pharmaceuticals has a 12-month low of $7.55 and a 12-month high of $18.51.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SPRY shares. William Blair restated an “outperform” rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Raymond James upped their price target on ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 14th. Oppenheimer initiated coverage on shares of ARS Pharmaceuticals in a research report on Monday, February 10th. They issued an “outperform” rating and a $40.00 target price on the stock. Scotiabank started coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $30.00 price target on the stock. Finally, Leerink Partners upped their price objective on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $31.00.

Insider Activity at ARS Pharmaceuticals

In related news, Director Laura Shawver sold 49,600 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $11.21, for a total value of $556,016.00. Following the sale, the director now owns 210,346 shares in the company, valued at approximately $2,357,978.66. The trade was a 19.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 149,600 shares of company stock worth $1,726,516. Company insiders own 40.10% of the company’s stock.

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.