Eric Karas Sells 10,000 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ARS Pharmaceuticals Stock Performance

Shares of SPRY opened at $12.36 on Friday. The stock has a 50 day moving average price of $12.06 and a two-hundred day moving average price of $13.05. The firm has a market capitalization of $1.20 billion, a P/E ratio of -24.24 and a beta of 1.03. ARS Pharmaceuticals, Inc. has a 52 week low of $7.55 and a 52 week high of $18.51.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings data on Thursday, March 20th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.56. The company had revenue of $86.58 million for the quarter, compared to the consensus estimate of $15.46 million. On average, equities 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 brokerages recently commented on SPRY. Oppenheimer began coverage on ARS Pharmaceuticals in a research report on Monday, February 10th. They issued an “outperform” rating and a $40.00 target price for the company. William Blair reaffirmed an “outperform” rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Scotiabank began coverage on ARS Pharmaceuticals in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $30.00 target price for the company. Raymond James boosted 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, Leerink Partners boosted their target price on ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ARS Pharmaceuticals has an average rating of “Buy” and a consensus price target of $31.00.

Institutional Trading of ARS Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPRY. Wellington Management Group LLP grew its holdings in shares of ARS Pharmaceuticals by 0.6% in the fourth quarter. Wellington Management Group LLP now owns 163,252 shares of the company’s stock valued at $1,722,000 after acquiring an additional 917 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of ARS Pharmaceuticals by 2.9% in the fourth quarter. Rhumbline Advisers now owns 65,163 shares of the company’s stock valued at $687,000 after acquiring an additional 1,824 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of ARS Pharmaceuticals by 10.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company’s stock valued at $217,000 after acquiring an additional 1,962 shares in the last quarter. Mariner LLC grew its holdings in shares of ARS Pharmaceuticals by 5.8% in the fourth quarter. Mariner LLC now owns 35,908 shares of the company’s stock valued at $379,000 after acquiring an additional 1,972 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in shares of ARS Pharmaceuticals by 11.4% in the fourth quarter. LPL Financial LLC now owns 21,408 shares of the company’s stock valued at $226,000 after acquiring an additional 2,190 shares in the last quarter. 68.16% of the stock is owned by institutional investors.

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.