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 company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the transaction, the insider now owns 7,696 shares in the company, valued at $107,744. This trade represents a 56.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ARS Pharmaceuticals Trading Down 13.6 %

NASDAQ:SPRY traded down $1.95 during trading hours on Friday, hitting $12.36. The company’s stock had a trading volume of 4,452,514 shares, compared to its average volume of 1,049,391. The stock has a market capitalization of $1.20 billion, a P/E ratio of -24.24 and a beta of 1.03. The stock has a fifty day moving average of $12.04 and a 200-day moving average of $13.04. ARS Pharmaceuticals, Inc. has a 52-week low of $7.55 and a 52-week high of $18.51.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its earnings results on Thursday, March 20th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.56. The business had revenue of $86.58 million during the quarter, compared to analysts’ expectations of $15.46 million. On average, sell-side analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on SPRY. William Blair restated an “outperform” rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Oppenheimer assumed coverage on ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an “outperform” rating and a $40.00 price objective on the stock. Scotiabank assumed coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $30.00 price objective on the stock. Raymond James increased their price objective on ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, Leerink Partners increased their price objective on 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $31.00.

Hedge Funds Weigh In On ARS Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new position in shares of ARS Pharmaceuticals during the fourth quarter worth about $27,000. KLP Kapitalforvaltning AS purchased a new position in shares of ARS Pharmaceuticals during the fourth quarter worth about $73,000. BNP Paribas Financial Markets purchased a new position in shares of ARS Pharmaceuticals during the fourth quarter worth about $75,000. Compass Capital Corp MA ADV purchased a new position in shares of ARS Pharmaceuticals during the fourth quarter worth about $106,000. Finally, Ball & Co Wealth Management Inc. purchased a new position in shares of ARS Pharmaceuticals during the fourth quarter worth about $105,000. Hedge funds and other 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.