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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Eric Karas sold 10,000 shares of the company’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 value of $140,000.00. Following the completion of the sale, the insider now owns 7,696 shares of the company’s stock, valued at $107,744. This trade represents a 56.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ARS Pharmaceuticals Stock Down 13.6 %

SPRY stock opened at $12.36 on Friday. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -24.24 and a beta of 1.03. The company has a 50 day moving average of $12.06 and a two-hundred day moving average of $13.04. ARS Pharmaceuticals, Inc. has a 12-month low of $7.55 and a 12-month high of $18.51.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings results on Thursday, March 20th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.56. The company had revenue of $86.58 million during the quarter, compared to analyst estimates of $15.46 million. On average, research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SPRY. William Blair reissued an “outperform” rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Leerink Partners increased their target price on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note 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 research report on Tuesday, January 14th. Scotiabank initiated coverage on shares of ARS Pharmaceuticals in a research note on Friday, March 7th. They set a “sector outperform” rating and a $30.00 price objective for the company. Finally, Oppenheimer initiated coverage on shares of ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an “outperform” rating and a $40.00 target price for the company. Five 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, the stock has an average rating of “Buy” and an average price target of $31.00.

Hedge Funds Weigh In On ARS Pharmaceuticals

A number of institutional investors have recently modified their holdings of SPRY. Alliancebernstein L.P. grew its holdings in ARS Pharmaceuticals by 5,168.4% during the fourth quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company’s stock valued at $40,942,000 after purchasing an additional 3,807,074 shares during the period. Alyeska Investment Group L.P. raised its position in ARS Pharmaceuticals by 903.0% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company’s stock worth $13,227,000 after acquiring an additional 1,128,724 shares in the last quarter. Raymond James Financial Inc. bought a new stake in ARS Pharmaceuticals during the fourth quarter worth $6,576,000. Millennium Management LLC raised its position in ARS Pharmaceuticals by 93.0% during the fourth quarter. Millennium Management LLC now owns 939,278 shares of the company’s stock worth $9,909,000 after acquiring an additional 452,532 shares in the last quarter. Finally, Peregrine Capital Management LLC bought a new position in shares of ARS Pharmaceuticals in the fourth quarter valued at about $4,469,000. 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.