Leerink Partnrs Has Bearish Estimate for SPRY Q3 Earnings

Key Points

• Leerink Partners has revised its Q3 2025 earnings estimate for ARS Pharmaceuticals to a loss of ($0.49) per share, down from the previous estimate of ($0.47).
• ARS Pharmaceuticals reported a quarterly EPS of (0.46), which was below analysts' expectations of (0.41), despite higher revenue of $15.72 million.
• Insiders sold over 1 million shares of ARS Pharmaceuticals in the last ninety days, which has led to a significant decrease in their ownership stake in the company.

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) - Investment analysts at Leerink Partnrs reduced their Q3 2025 earnings per share estimates for ARS Pharmaceuticals in a report released on Wednesday, August 13th. Leerink Partnrs analyst R. Ruiz now anticipates that the company will earn ($0.49) per share for the quarter, down from their prior estimate of ($0.47). The consensus estimate for ARS Pharmaceuticals' current full-year earnings is ($0.55) per share. Leerink Partnrs also issued estimates for ARS Pharmaceuticals' Q4 2025 earnings at ($0.38) EPS, FY2025 earnings at ($1.67) EPS, FY2026 earnings at ($0.68) EPS, FY2027 earnings at $0.48 EPS and FY2028 earnings at $2.58 EPS.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last announced its quarterly 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 company had revenue of $15.72 million for the quarter, compared to analyst estimates of $12.92 million. ARS Pharmaceuticals had a negative return on equity of 21.85% and a negative net margin of 42.74%.

Separately, Wall Street Zen downgraded ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $31.00.

ARS Pharmaceuticals Stock Down 1.7%

NASDAQ SPRY traded down $0.24 during trading on Monday, hitting $13.79. 2,175,327 shares of the company traded hands, compared to its average volume of 1,668,947. ARS Pharmaceuticals has a 12 month low of $10.00 and a 12 month high of $18.90. The company has a market capitalization of $1.36 billion, a P/E ratio of -28.14 and a beta of 0.90. The business has a fifty day simple moving average of $16.82 and a 200 day simple moving average of $14.33. The company has a current ratio of 6.17, a quick ratio of 5.98 and a debt-to-equity ratio of 0.37.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SPRY. Adage Capital Partners GP L.L.C. purchased a new stake in ARS Pharmaceuticals in the second quarter worth about $30,154,000. MPM Bioimpact LLC bought a new position in ARS Pharmaceuticals in the first quarter worth approximately $16,519,000. Alyeska Investment Group L.P. raised its position in ARS Pharmaceuticals by 903.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company's stock worth $13,227,000 after acquiring an additional 1,128,724 shares during the period. Cormorant Asset Management LP raised its position in shares of ARS Pharmaceuticals by 220.0% during the 1st quarter. Cormorant Asset Management LP now owns 1,600,000 shares of the company's stock valued at $20,128,000 after purchasing an additional 1,100,000 shares during the period. Finally, Aberdeen Group plc bought a new stake in shares of ARS Pharmaceuticals during the 1st quarter valued at $12,613,000. 68.16% of the stock is owned by institutional investors.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, insider Eric Karas sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $16.99, for a total value of $254,850.00. Following the completion of the sale, the insider directly owned 10,315 shares of the company's stock, valued at $175,251.85. This represents a 59.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder James E. Flynn sold 740,149 shares of the company's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $18.46, for a total value 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 ownership of the stock. 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. 33.50% of the stock is currently owned by insiders.

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.