ARS Pharmaceuticals (NASDAQ:SPRY) Issues Earnings Results, Misses Estimates By $0.01 EPS

ARS Pharmaceuticals (NASDAQ:SPRY) posted its earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01), Yahoo Finance reports. The company had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $2.00 million.

ARS Pharmaceuticals Stock Up 1.9 %

SPRY traded up $0.24 during trading on Monday, hitting $13.20. 876,687 shares of the stock were exchanged, compared to its average volume of 715,928. The stock has a fifty day moving average price of $10.43 and a two-hundred day moving average price of $9.36. ARS Pharmaceuticals has a 1-year low of $2.55 and a 1-year high of $16.50. The firm has a market capitalization of $1.28 billion, a P/E ratio of -24.92 and a beta of 0.87.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SPRY shares. Leerink Partners increased their price objective on shares of ARS Pharmaceuticals from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Raymond James upgraded ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $18.00 to $22.00 in a research report on Tuesday, August 13th. Finally, Cantor Fitzgerald began coverage on ARS Pharmaceuticals in a report on Tuesday, August 20th. They set an “overweight” rating and a $30.00 target price on the stock. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $22.75.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, Director Peter A. Thompson sold 407,700 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $13.56, for a total value of $5,528,412.00. Following the sale, the director now owns 544,677 shares of the company’s stock, valued at $7,385,820.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Richard E. Lowenthal sold 4,138 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $9.00, for a total value of $37,242.00. Following the transaction, the chief executive officer now owns 1,594,328 shares of the company’s stock, valued at approximately $14,348,952. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter A. Thompson sold 407,700 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $13.56, for a total value of $5,528,412.00. Following the transaction, the director now owns 544,677 shares in the company, valued at approximately $7,385,820.12. The disclosure for this sale can be found here. Insiders sold a total of 949,700 shares of company stock valued at $12,043,376 in the last ninety days. 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.