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Laura Shawver, a director at ARS Pharmaceuticals (NASDAQ:SPRY), executed a series of stock transactions, according to a recent SEC filing. On March 5 and March 6, Shawver sold a total of 50,000 shares of the company’s common stock, amounting to approximately $560,445. The sale prices ranged from $11.00 to $11.2106 per share, as part of a pre-established Rule 10b5-1 trading plan. The stock, currently trading at $10.85, has shown resilience with a 20% gain over the past year. According to InvestingPro data, analysts maintain a Strong Buy rating with price targets ranging from $19 to $40.
In addition to the sales, Shawver exercised stock options to acquire 50,000 shares at $4.85 per share, totaling approximately $242,499. Following these transactions, Shawver’s direct ownership stands at 210,346 shares in the $1.07 billion market cap company. InvestingPro analysis indicates the stock is currently fairly valued, with a Financial Health score of "Fair." The company’s next earnings report is scheduled for March 20.
In other recent news, ARS Pharmaceuticals announced that the U.S. Food and Drug Administration (FDA) has approved its neffy 1 mg nasal spray for emergency treatment of severe allergic reactions in children aged four and older. This approval follows the earlier authorization of neffy 2 mg for older individuals, and the product is expected to hit the U.S. market by May 2025. Adding to the company’s positive developments, ARS Pharmaceuticals reported preliminary fourth-quarter net revenue for neffy at approximately $6.5 million, surpassing the analyst estimate of $3.11 million. The total net product sales for 2024 reached around $7.1 million after the product became available in September.
Additionally, ARS Pharmaceuticals is seeking regulatory approvals for neffy in the Asia Pacific region, with filings submitted in China, Japan, and Australia. Clinical trials in these countries have shown promising results, supporting the company’s expansion efforts. Meanwhile, Scotiabank (TSX:BNS) initiated coverage of ARS Pharmaceuticals with a Sector Outperform rating and a $30 price target, citing the potential market impact of neffy. The analysts noted the company’s strategic positioning and the competitive pricing of neffy as favorable factors for its market penetration. These recent developments indicate a period of significant activity and potential growth for ARS Pharmaceuticals.
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