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

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.56, Zacks reports. The business had revenue of $86.58 million during the quarter, compared to the consensus estimate of $15.46 million.

ARS Pharmaceuticals Stock Up 4.3 %

NASDAQ:SPRY traded up $0.53 during trading hours on Monday, hitting $12.89. 4,073,338 shares of the company's stock traded hands, compared to its average volume of 1,063,646. The firm has a market cap of $1.25 billion, a P/E ratio of -25.27 and a beta of 1.03. The business's fifty day simple moving average is $12.10 and its two-hundred day simple moving average is $13.06. ARS Pharmaceuticals has a 52 week low of $7.55 and a 52 week high of $18.51.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SPRY shares. William Blair reissued an "outperform" rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Leerink Partners boosted 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. Oppenheimer assumed coverage on ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an "outperform" rating and a $40.00 target price for the company. Scotiabank assumed coverage on ARS Pharmaceuticals in a report on Friday, March 7th. They set a "sector outperform" rating and a $30.00 target price for the company. Finally, Raymond James increased their price target on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 14th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $31.00.

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Insider Buying and Selling at ARS Pharmaceuticals

In other news, Director Laura Shawver sold 50,000 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.31, for a total transaction of $615,500.00. Following the completion of the transaction, the director now owns 210,346 shares of the company's stock, valued at approximately $2,589,359.26. The trade was a 19.21 % 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 the SEC website. Also, insider Eric Karas sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $14.00, for a total transaction of $140,000.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 159,600 shares of company stock valued at $1,866,516 in the last 90 days. Corporate insiders own 40.10% of the company's stock.

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.