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

ARS Pharmaceuticals (NASDAQ:SPRY) released its earnings results on Thursday. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.56, Zacks reports. The company had revenue of $86.58 million during the quarter, compared to analysts’ expectations of $15.46 million.

ARS Pharmaceuticals Trading Down 10.5 %

NASDAQ:SPRY traded down $1.50 during midday trading on Friday, hitting $12.81. 324,612 shares of the company were exchanged, compared to its average volume of 1,034,604. ARS Pharmaceuticals has a fifty-two week low of $7.55 and a fifty-two week high of $18.51. The company has a market capitalization of $1.24 billion, a PE ratio of -25.04 and a beta of 1.03. The company has a fifty day simple moving average of $12.04 and a 200 day simple moving average of $13.04.

Insiders Place Their Bets

In related news, Director Laura Shawver sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $12.31, for a total transaction of $615,500.00. Following the transaction, the director now owns 210,346 shares in the company, valued at $2,589,359.26. This trade represents a 19.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 149,600 shares of company stock valued at $1,726,516. 40.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on SPRY. Leerink Partners boosted their price objective on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. Raymond James raised their price objective on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 14th. Oppenheimer initiated coverage on shares of ARS Pharmaceuticals in a research report on Monday, February 10th. They set an “outperform” rating and a $40.00 price objective for the company. William Blair reissued an “outperform” rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Finally, Scotiabank began coverage on ARS Pharmaceuticals in a research report on Friday, March 7th. They set a “sector outperform” rating and a $30.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price 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.