William Blair Issues Optimistic Outlook for SPRY Earnings

Key Points

• Analysts at William Blair have raised their Q3 2025 earnings per share estimate for ARS Pharmaceuticals to ($0.47), an improvement from an earlier forecast of ($0.48).
• ARS Pharmaceuticals reported a Q2 loss of ($0.46) EPS, missing expectations by ($0.05), despite generating revenue of $15.72 million, exceeding analyst estimates.
• Recent insider sales include transactions by CFO Kathleen D. Scott and insider Alexander A. Fitzpatrick, with over 1 million shares sold in the past 90 days, reflecting a significant decrease in their ownership stakes.

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) - Stock analysts at William Blair increased their Q3 2025 earnings estimates for ARS Pharmaceuticals in a research report issued to clients and investors on Wednesday, August 13th. William Blair analyst L. Hanbury-Brown now anticipates that the company will post earnings per share of ($0.47) for the quarter, up from their previous estimate of ($0.48). The consensus estimate for ARS Pharmaceuticals' current full-year earnings is ($0.55) per share. William Blair also issued estimates for ARS Pharmaceuticals' Q4 2025 earnings at ($0.33) EPS, FY2025 earnings at ($1.61) EPS, Q2 2026 earnings at ($0.19) EPS, Q4 2026 earnings at ($0.09) EPS and FY2026 earnings at ($0.69) EPS.

Separately, Wall Street Zen cut shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $31.00.

ARS Pharmaceuticals Stock Down 1.7%

Shares of NASDAQ SPRY traded down $0.24 during mid-day trading on Monday, reaching $13.79. 2,175,327 shares of the company's stock traded hands, compared to its average volume of 1,668,947. The stock has a market cap of $1.36 billion, a P/E ratio of -28.14 and a beta of 0.90. The business has a 50-day simple moving average of $16.82 and a 200 day simple moving average of $14.33. ARS Pharmaceuticals has a 1-year low of $10.00 and a 1-year high of $18.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.17 and a quick ratio of 5.98.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported ($0.46) earnings per share for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.05). The firm had revenue of $15.72 million for the quarter, compared to the consensus estimate of $12.92 million. ARS Pharmaceuticals had a negative return on equity of 21.85% and a negative net margin of 42.74%.

Insider Activity at ARS Pharmaceuticals

In other news, insider Eric Karas sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $16.99, for a total value of $254,850.00. Following the sale, the insider owned 10,315 shares of the company's stock, valued at $175,251.85. The trade was a 59.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder James E. Flynn sold 740,149 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $18.46, for a total transaction of $13,663,150.54. Following the completion of the transaction, the insider directly owned 4,887,254 shares of the company's stock, valued at approximately $90,218,708.84. This represents a 13.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 770,149 shares of company stock worth $14,158,001. Insiders own 33.50% of the company's stock.

Institutional Trading of ARS Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Bernard Wealth Management Corp. bought a new position in shares of ARS Pharmaceuticals in the 4th quarter worth approximately $27,000. ANTIPODES PARTNERS Ltd bought a new stake in shares of ARS Pharmaceuticals in the first quarter valued at about $37,000. PNC Financial Services Group Inc. grew its stake in shares of ARS Pharmaceuticals by 78,100.0% during the first quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company's stock worth $49,000 after acquiring an additional 3,905 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in ARS Pharmaceuticals in the fourth quarter valued at approximately $75,000. Finally, Ameritas Investment Partners Inc. boosted its position in ARS Pharmaceuticals by 16.1% in the second quarter. Ameritas Investment Partners Inc. now owns 5,598 shares of the company's stock valued at $98,000 after buying an additional 777 shares during the last quarter. 68.16% of the stock is owned by hedge funds and other institutional investors.

About ARS Pharmaceuticals

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.