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

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

ARS Pharmaceuticals Stock Performance

Shares of NASDAQ SPRY opened at $12.19 on Friday. The company has a market capitalization of $1.20 billion, a P/E ratio of -23.90 and a beta of 0.84. ARS Pharmaceuticals has a 52-week low of $7.55 and a 52-week high of $18.51. The company’s 50 day moving average price is $13.30 and its 200-day moving average price is $12.90.

Insider Transactions 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 shares were sold at an average price of $11.21, for a total value of $556,016.00. Following the transaction, the director now owns 210,346 shares in the company, valued at $2,357,978.66. The trade was a 19.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric Karas sold 10,000 shares of the business’s 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 transaction, the insider now directly owns 7,696 shares in the company, valued at $107,744. This represents a 56.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,602 shares of company stock worth $1,311,041. Company insiders own 33.50% of the company’s stock.

Hedge Funds Weigh In On ARS Pharmaceuticals

A hedge fund recently raised its stake in ARS Pharmaceuticals stock. Royal Bank of Canada lifted its stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 1,075.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,547 shares of the company’s stock after acquiring an additional 16,969 shares during the period. Royal Bank of Canada’s holdings in ARS Pharmaceuticals were worth $234,000 at the end of the most recent reporting period. Institutional investors own 68.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SPRY shares. William Blair reiterated an “outperform” rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Scotiabank started coverage on shares of ARS Pharmaceuticals in a report on Friday, March 7th. They set a “sector outperform” rating and a $30.00 price target on the stock. Finally, Oppenheimer started coverage on shares of ARS Pharmaceuticals in a report on Monday, February 10th. They set an “outperform” rating and a $40.00 price target on the stock. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ARS Pharmaceuticals presently has an average rating of “Buy” and an average target price of $31.00.

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.