ARS Pharmaceuticals (NASDAQ:SPRY) Announces Quarterly Earnings Results, Beats Estimates By $0.56 EPS

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

ARS Pharmaceuticals Trading Down 13.6 %

Shares of NASDAQ SPRY opened at $12.36 on Friday. ARS Pharmaceuticals has a twelve month low of $7.55 and a twelve month high of $18.51. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -24.24 and a beta of 1.03. The business has a 50 day simple moving average of $12.06 and a 200-day simple moving average of $13.04.

Insider Activity

In other news, insider Eric Karas sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 7,696 shares in the company, valued at approximately $107,744. The trade was a 56.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Laura Shawver sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.31, for a total value of $615,500.00. Following the completion of the sale, the director now owns 210,346 shares of the company’s stock, valued at $2,589,359.26. This trade represents a 19.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 159,600 shares of company stock worth $1,866,516. 40.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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