ARS Pharmaceuticals (NASDAQ:SPRY) Sets New 12-Month Low - Should You Sell?

Key Points

• ARS Pharmaceuticals shares fell 5.9% to a new 52-week low of $4.73, well below their 50-day and 200-day moving averages, after the company reported a larger-than-expected quarterly loss.
• Despite the stock weakness, analysts maintain a consensus “Moderate Buy” rating with an average price target of $26.40, although individual ratings and targets vary substantially.
• Investor sentiment faces additional pressure from a pending securities class-action lawsuit alleging misleading statements about the timing of expanded CVS Caremark coverage for neffy; the allegations remain unproven.

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) shares hit a new 52-week low during trading on Friday . The stock traded as low as $4.73 and last traded at $4.76, with a volume of 2570805 shares traded. The stock had previously closed at $5.06.

ARS Pharmaceuticals News Summary

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

• Positive Sentiment: Brokerage analysts maintain a consensus rating of “Moderate Buy,” suggesting some Wall Street analysts continue to see potential upside despite the recent weakness. ARS Pharmaceuticals Given Consensus Rating of Moderate Buy
• Neutral Sentiment: A reported short-interest update showed zero shares sold short both before and after the measurement period, with a zero-day days-to-cover ratio. The figures appear inconsistent or incomplete, so they provide little dependable insight into current trading sentiment.
• Negative Sentiment: Several investor-rights firms, including Rosen, Bronstein Gewirtz & Grossman, Bragar Eagel & Squire, SBS Law, Faruqi & Faruqi and Kaplan Fox, announced or promoted the pending class action against ARS Pharmaceuticals and certain officers. The case covers investors who purchased SPRY securities from March 9 through June 24, 2026, and alleges violations of federal securities laws. SPRY Investors Have Opportunity to Lead Securities Fraud Lawsuit
• Negative Sentiment: The allegations reportedly focus on whether ARS and executives—including Chief Commercial Officer Eric Karas—misled investors about the timing of expanded CVS Caremark coverage for neffy, after SPRY shares fell 23.9% in one session. Although the allegations have not been proven, the litigation could create legal costs, prolong uncertainty and weigh on investor confidence. SueWallSt ARS Pharmaceuticals Class Action Reminder

Analyst Ratings Changes

Several equities research analysts have issued reports on SPRY shares. Leerink Partners set a $15.00 price target on shares of ARS Pharmaceuticals in a research note on Tuesday. Cantor Fitzgerald raised their price objective on ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, May 28th. Wall Street Zen raised ARS Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 16th. Finally, Weiss Ratings lowered ARS Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, August 17th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $26.40.

ARS Pharmaceuticals Stock Down 5.9%

The company has a debt-to-equity ratio of 13.72, a quick ratio of 3.28 and a current ratio of 3.48. The business's 50 day moving average price is $6.24 and its 200-day moving average price is $7.76.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.63) earnings per share (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 during the quarter, compared to the consensus estimate of $31.32 million. As a group, equities research analysts expect that ARS Pharmaceuticals, Inc. will post -1.9 earnings per share for the current year.

Institutional Investors Weigh In On ARS Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in SPRY. First Trust Advisors LP bought a new stake in shares of ARS Pharmaceuticals during the 1st quarter valued at $3,389,000. Hennion & Walsh Asset Management Inc. bought a new position in shares of ARS Pharmaceuticals in the second quarter worth $1,407,000. Rubric Capital Management LP raised its stake in ARS Pharmaceuticals by 29.0% in the first quarter. Rubric Capital Management LP now owns 8,000,000 shares of the company's stock valued at $64,240,000 after purchasing an additional 1,800,000 shares in the last quarter. Creek Drive Management Group LLC acquired a new position in ARS Pharmaceuticals in the fourth quarter valued at about $3,447,000. Finally, Tejara Capital Ltd bought a new stake in ARS Pharmaceuticals during the second quarter worth about $4,862,000. Institutional investors and hedge funds own 68.16% of the company's stock.

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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.

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