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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Eric Karas sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $14.00, for a total transaction of $140,000.00. Following the completion of the transaction, the insider now owns 5,693 shares of the company’s stock, valued at approximately $79,702. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Eric Karas also recently made the following trade(s):

• On Monday, August 19th, Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock. The shares were sold at an average price of $14.00, for a total transaction of $140,000.00.

ARS Pharmaceuticals Trading Up 5.8 %

Shares of SPRY opened at $14.86 on Friday. ARS Pharmaceuticals, Inc. has a 12 month low of $2.55 and a 12 month high of $16.50. The firm has a fifty day simple moving average of $11.88 and a 200 day simple moving average of $9.97. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -28.58 and a beta of 0.90.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its earnings results on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The company had revenue of $0.50 million for the quarter, compared to analyst estimates of $2.00 million. As a group, research analysts predict that ARS Pharmaceuticals, Inc. will post -0.66 earnings per share for the current fiscal year.

Institutional Trading of ARS Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. lifted its stake in ARS Pharmaceuticals by 14.8% in the first quarter. RA Capital Management L.P. now owns 10,860,977 shares of the company’s stock valued at $110,999,000 after acquiring an additional 1,401,299 shares during the last quarter. Franklin Resources Inc. raised its position in shares of ARS Pharmaceuticals by 5.9% in the fourth quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock valued at $22,460,000 after purchasing an additional 229,988 shares during the period. Vanguard Group Inc. raised its position in shares of ARS Pharmaceuticals by 37.0% in the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock valued at $29,500,000 after purchasing an additional 779,969 shares during the period. ClariVest Asset Management LLC raised its position in shares of ARS Pharmaceuticals by 5.4% in the second quarter. ClariVest Asset Management LLC now owns 287,596 shares of the company’s stock valued at $2,447,000 after purchasing an additional 14,640 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of ARS Pharmaceuticals by 1,280.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 277,706 shares of the company’s stock valued at $2,838,000 after purchasing an additional 257,589 shares during the period. Institutional investors and hedge funds own 68.16% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Leerink Partners upped their price target on shares of ARS Pharmaceuticals from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price target on shares of ARS Pharmaceuticals in a report on Monday. William Blair upgraded shares of ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Finally, Raymond James upgraded shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $18.00 to $22.00 in a report on Tuesday, August 13th. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $22.75.

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.