ARS Pharmaceuticals (NASDAQ:SPRY) Posts Earnings Results, Beats Estimates By $0.61 EPS
ARS Pharmaceuticals (NASDAQ:SPRY) reported earnings of $0.52 per share, exceeding estimates by $0.61. The stock rose by $2.82 to $14.47, with a market cap of $1.41 billion. Analysts maintain a consensus rating of "Buy" with a target price of $31.00. Recent insider transactions included the sale of 49,600 shares by Director Laura Shawver. The company focuses on developing treatments for severe allergic reactions, including a needle-free epinephrine nasal spray for anaphylaxis.
ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.61, Zacks reports.
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ARS Pharmaceuticals Price Performance
NASDAQ SPRY traded up $2.82 on Thursday, reaching $14.47. 4,254,858 shares of the company's stock traded hands, compared to its average volume of 1,017,073. The stock has a market cap of $1.41 billion, a PE ratio of -29.07 and a beta of 1.03. ARS Pharmaceuticals has a 12 month low of $7.55 and a 12 month high of $18.51. The stock has a 50-day simple moving average of $11.98 and a 200 day simple moving average of $13.03.
Wall Street Analysts Forecast Growth
SPRY has been the subject of a number of recent analyst reports. William Blair reaffirmed an "outperform" rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Oppenheimer initiated coverage on shares of ARS Pharmaceuticals in a report on Monday, February 10th. They set an "outperform" rating and a $40.00 target price on the stock. Leerink Partners raised their price target on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an "outperform" rating in a report on Monday, January 13th. Scotiabank assumed coverage on shares of ARS Pharmaceuticals in a report on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 price target on the stock. Finally, Raymond James increased their price objective on ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a "strong-buy" rating in a research 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. Based on data from MarketBeat, ARS Pharmaceuticals presently has a consensus rating of "Buy" and a consensus price target of $31.00.
Read Our Latest Research Report on ARS Pharmaceuticals
Insider Transactions at ARS Pharmaceuticals
In related news, Director Laura Shawver sold 49,600 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $11.21, for a total transaction of $556,016.00. Following the transaction, the director now owns 210,346 shares of the company's stock, valued at approximately $2,357,978.66. This trade represents a 19.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 149,600 shares of company stock worth $1,726,516. 40.10% of the stock is currently owned by insiders.
About ARS Pharmaceuticals
(Get Free Report)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.
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