ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts rate ARS Pharmaceuticals “Moderate Buy”: Four of six analysts recommend buying the stock, with an average 12-month price target of $28.20, despite one hold and one sell rating.
• Legal and product-coverage risks weigh on the outlook: Investor law firms are soliciting shareholders for a securities class action concerning alleged disclosure issues tied to potential CVS Caremark coverage delays for neffy until January 2027.
• Shares and earnings remain under pressure: SPRY opened at $5.62, well below its $13.15 12-month high, while the company reported a quarterly EPS loss of $0.63 versus the expected $0.48 loss and continues to post deeply negative profitability metrics.

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) have received an average rating of "Moderate Buy" from the six analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $28.20.

A number of equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of ARS Pharmaceuticals from a "strong sell" rating to a "sell" rating in a report on Saturday, May 16th. Leerink Partners lowered their price objective on ARS Pharmaceuticals from $25.00 to $24.00 and set an "outperform" rating for the company in a research note on Thursday, June 25th. Cantor Fitzgerald raised their target price on ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, May 28th. Finally, Weiss Ratings cut ARS Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, August 17th.

ARS Pharmaceuticals News Roundup

Here are the key news stories impacting ARS Pharmaceuticals this week:

• Negative Sentiment: Multiple firms, including Rosen Law Firm, Kaplan Fox, Faruqi & Faruqi, and others, are soliciting investors who purchased SPRY shares between March 9 and June 24, 2026, in connection with a securities class action. The litigation creates potential legal costs, reputational risk, and uncertainty for shareholders. Rosen Law Firm class action announcement
• Negative Sentiment: The allegations reportedly focus on whether ARS adequately disclosed the risk that CVS Caremark’s formulary process could delay coverage for neffy until January 2027. A delay could cause the product to miss the summer and back-to-school allergy seasons, potentially weighing on near-term sales expectations. SueWallSt ARS investor alert
• Neutral Sentiment: The October 5 deadline is procedural and does not establish that ARS violated securities laws; the allegations remain unproven. Investors who qualify may seek lead-plaintiff status or participate through the litigation process without upfront legal fees. SBS ARS securities lawsuit announcement

ARS Pharmaceuticals Price Performance

Shares of SPRY opened at $5.62 on Friday. The business's fifty day moving average is $6.47 and its 200 day moving average is $7.88. ARS Pharmaceuticals has a 12-month low of $4.91 and a 12-month high of $13.15. The company has a quick ratio of 3.28, a current ratio of 3.48 and a debt-to-equity ratio of 13.72. The stock has a market cap of $558.89 million, a P/E ratio of -2.58 and a beta of 1.05.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.63) EPS for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.15). ARS Pharmaceuticals had a negative net margin of 184.24% and a negative return on equity of 256.67%. The business had revenue of $33.66 million for the quarter, compared to the consensus estimate of $31.32 million. Sell-side analysts anticipate that ARS Pharmaceuticals will post -1.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ARS Pharmaceuticals news, insider Alexander Fitzpatrick sold 3,355 shares of the firm's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $10.00, for a total transaction of $33,550.00. Following the transaction, the insider directly owned 90,910 shares in the company, valued at approximately $909,100. This trade represents a 3.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Karas sold 25,000 shares of ARS Pharmaceuticals stock in a transaction on Friday, June 12th. The stock was sold at an average price of $10.00, for a total transaction of $250,000.00. Following the transaction, the insider directly owned 12,176 shares in the company, valued at $121,760. This represents a 67.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 33.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPRY. Allianz Asset Management GmbH purchased a new stake in ARS Pharmaceuticals in the 2nd quarter valued at about $82,000. Corient Private Wealth LP lifted its holdings in ARS Pharmaceuticals by 12.5% during the second quarter. Corient Private Wealth LP now owns 91,042 shares of the company's stock worth $729,000 after acquiring an additional 10,099 shares during the period. California State Teachers Retirement System boosted its position in ARS Pharmaceuticals by 588.5% in the second quarter. California State Teachers Retirement System now owns 369,445 shares of the company's stock worth $2,959,000 after purchasing an additional 315,787 shares during the last quarter. Syon Capital LLC bought a new position in ARS Pharmaceuticals in the 2nd quarter valued at $80,000. Finally, Headlands Technologies LLC increased its position in shares of ARS Pharmaceuticals by 56.2% during the 2nd quarter. Headlands Technologies LLC now owns 75,279 shares of the company's stock valued at $603,000 after purchasing an additional 27,073 shares during the last quarter. 68.16% of the stock is currently owned by hedge funds and other institutional investors.

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.

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