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

ARS Pharmaceuticals (NASDAQ:SPRY) issued its 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 for the quarter, compared to the consensus estimate of $15.46 million.

ARS Pharmaceuticals Price Performance

Shares of NASDAQ:SPRY opened at $13.13 on Friday. The business’s 50-day moving average is $12.04 and its 200 day moving average is $13.04. ARS Pharmaceuticals has a 1 year low of $7.55 and a 1 year high of $18.51. The firm has a market capitalization of $1.28 billion, a P/E ratio of -25.92 and a beta of 1.03.

Insider Activity at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, Director Laura Shawver sold 50,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.10, for a total transaction of $555,000.00. Following the sale, the director now owns 210,346 shares in the company, valued at approximately $2,334,840.60. The trade was a 19.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 149,600 shares of company stock valued at $1,726,516 in the last ninety days. Corporate insiders own 40.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on SPRY shares. Oppenheimer started coverage on ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an “outperform” rating and a $40.00 price objective on the stock. Scotiabank started coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $30.00 price objective on the stock. Leerink Partners lifted their price objective on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. William Blair reaffirmed an “outperform” rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Finally, Raymond James lifted their price objective 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. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $31.00.

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.