ARS Pharmaceuticals (NASDAQ:SPRY) Announces Quarterly Earnings Results

ARS Pharmaceuticals (NASDAQ:SPRY) issued its quarterly earnings data on Thursday. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.56, Zacks reports. The company had revenue of $86.58 million for the quarter, compared to the consensus estimate of $15.46 million.

ARS Pharmaceuticals Trading Down 8.3 %

SPRY opened at $13.13 on Friday. The stock has a fifty day simple moving average of $12.04 and a two-hundred day simple moving average of $13.04. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -25.92 and a beta of 1.03. ARS Pharmaceuticals has a 12-month low of $7.55 and a 12-month high of $18.51.

Insider Transactions at ARS Pharmaceuticals

In related news, Director Laura Shawver sold 49,600 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $11.21, for a total transaction of $556,016.00. Following the sale, the director now directly owns 210,346 shares of the company’s stock, valued at $2,357,978.66. This trade represents a 19.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 149,600 shares of company stock valued at $1,726,516. Insiders own 40.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SPRY. William Blair reaffirmed an “outperform” rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Oppenheimer began coverage on ARS Pharmaceuticals in a report on Monday, February 10th. They issued an “outperform” rating and a $40.00 price objective for the company. Leerink Partners lifted their price objective on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, January 13th. Raymond James lifted their price objective on ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 14th. Finally, Scotiabank began coverage on ARS Pharmaceuticals in a report on Friday, March 7th. They issued a “sector outperform” rating and a $30.00 price objective for the company. 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 company currently has a consensus rating of “Buy” and a consensus 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.