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

ARS Pharmaceuticals (NASDAQ:SPRY) issued its quarterly earnings data on Thursday. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates 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 Stock Down 13.6 %

Shares of ARS Pharmaceuticals stock opened at $12.36 on Friday. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -24.24 and a beta of 1.03. The business has a fifty day simple moving average of $12.06 and a 200-day simple moving average of $13.04. ARS Pharmaceuticals has a fifty-two week low of $7.55 and a fifty-two week high of $18.51.

Insider Activity

In other news, Director Laura Shawver sold 49,600 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $11.21, for a total value of $556,016.00. Following the completion of the sale, the director now owns 210,346 shares in the company, valued at $2,357,978.66. This represents a 19.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Eric Karas sold 10,000 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the sale, the insider now directly owns 7,696 shares of the company’s stock, valued at approximately $107,744. This represents a 56.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,600 shares of company stock worth $1,866,516 over the last 90 days. 40.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on SPRY shares. Oppenheimer assumed coverage on ARS Pharmaceuticals in a research note on Monday, February 10th. They set an “outperform” rating and a $40.00 price objective for the company. 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 target for the company. Raymond James increased their price target on ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 14th. Leerink Partners increased their price target on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. Finally, William Blair reissued an “outperform” rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Five equities research 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 stock has a consensus rating of “Buy” and an average price target 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.