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SAN DIEGO—Eric Karas, the Chief Commercial Officer of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY), recently executed a significant stock transaction. On March 20, Karas sold 10,000 shares of ARS Pharmaceuticals’ common stock at a price of $14 per share, totaling $140,000. The sale price was notably below the analyst consensus target range of $19-$40 per share, with the stock currently trading near $12.36. This sale was conducted under a pre-established Rule 10b5-1 trading plan adopted on March 26, 2024.
In addition to the sale, Karas also acquired 10,000 shares through stock option exercises at a price of $1.50 per share, amounting to $15,000. Following these transactions, Karas holds 7,696 shares directly.
ARS Pharmaceuticals, headquartered in San Diego, continues to navigate the pharmaceutical landscape with these strategic executive transactions.
In other recent news, ARS Pharmaceuticals Inc. reported a strong performance in their fourth-quarter 2024 earnings, exceeding analyst expectations with an earnings per share (EPS) of $0.51 against a forecasted loss of $0.13. The company also achieved a total revenue of $86.6 million, surpassing the anticipated $5.1 million, driven by strong collaboration and product revenues. This financial success is complemented by ARS Pharmaceuticals’ strategic initiatives, including a direct-to-consumer campaign and global expansion plans. Additionally, ARS Pharmaceuticals announced a significant advancement in patient access to their product, neffy, with a recent agreement with United Health Care to provide unrestricted access starting April 1. This agreement ensures that over 60% of commercial patients will have access to neffy without the need for prior authorization. In light of these developments, Raymond (NSE:RYMD) James analyst Ryan Deschner maintained a Strong Buy rating on ARS Pharmaceuticals, with a price target of $28.00, reflecting confidence in the company’s strategic progress. The company’s management emphasized their commitment to further expanding market reach and enhancing patient access to their innovative offerings.
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