Eric Karas Sells 25,000 Shares of ARS Pharmaceuticals (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Eric Karas sold 25,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $10.00, for a total transaction of $250,000.00. Following the completion of the sale, the insider directly owned 12,176 shares of the company’s stock, valued at $121,760. This represents a 67.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ARS Pharmaceuticals Trading Up 1.8%

Shares of SPRY opened at $9.76 on Friday. The company has a current ratio of 4.94, a quick ratio of 4.77 and a debt-to-equity ratio of 2.79. The firm has a market capitalization of $969.17 million, a P/E ratio of -4.86 and a beta of 0.94. The firm has a 50-day moving average price of $8.42 and a 200 day moving average price of $9.33. ARS Pharmaceuticals, Inc. has a 12-month low of $6.66 and a 12-month high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its earnings results on Friday, May 15th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.08). The company had revenue of $22.68 million for the quarter, compared to analysts’ expectations of $22.20 million. ARS Pharmaceuticals had a negative return on equity of 153.61% and a negative net margin of 200.00%. Sell-side analysts forecast that ARS Pharmaceuticals, Inc. will post -1.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Cantor Fitzgerald increased their target price on shares of ARS Pharmaceuticals from $12.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Weiss Ratings raised shares of ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. Leerink Partners set a $26.00 target price on shares of ARS Pharmaceuticals and gave the stock an “outperform” rating in a research note on Tuesday, March 10th. Northland Securities began coverage on shares of ARS Pharmaceuticals in a research report on Thursday, April 9th. They set an “outperform” rating and a $25.00 price target on the stock. Finally, Zacks Research raised shares of ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 25th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.60.

Institutional Trading of ARS Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Torren Management LLC acquired a new stake in shares of ARS Pharmaceuticals during the fourth quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in ARS Pharmaceuticals by 25.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company’s stock valued at $56,000 after acquiring an additional 982 shares in the last quarter. Osaic Holdings Inc. raised its holdings in ARS Pharmaceuticals by 52.8% in the second quarter. Osaic Holdings Inc. now owns 5,215 shares of the company’s stock valued at $91,000 after acquiring an additional 1,803 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in ARS Pharmaceuticals in the fourth quarter valued at approximately $65,000. Finally, BNP Paribas Financial Markets raised its holdings in ARS Pharmaceuticals by 58.3% in the second quarter. BNP Paribas Financial Markets now owns 6,097 shares of the company’s stock valued at $106,000 after acquiring an additional 2,245 shares in the last quarter. Institutional investors and hedge funds own 68.16% of the company’s stock.

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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.