ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) have been given a consensus rating of “Moderate Buy” by the six analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $28.20.

SPRY has been the topic of several research analyst reports. Leerink Partners lowered their price objective on ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Thursday, June 25th. Weiss Ratings cut ARS Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Cantor Fitzgerald raised their target price on ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen raised ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th.

Key ARS Pharmaceuticals News

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

• Positive Sentiment: Some analysts remain constructive on ARS Pharmaceuticals. A Seeking Alpha analysis argues that the new CEO’s cost-reduction initiatives and efforts to increase revenue could improve the company’s outlook. ARS Pharma: New CEO’s Program Of Reducing Costs While Increasing Revenues Makes A Buy
• Neutral Sentiment: Brokerage coverage cited in a separate report gives ARS Pharmaceuticals an average “Moderate Buy” rating, suggesting some analysts still see value despite recent execution and legal concerns. ARS Pharmaceuticals Given Average Rating of Moderate Buy by Brokerages
• Negative Sentiment: Several law firms, including Pomerantz, SBS Law, Gross Law Firm, Faruqi & Faruqi, Robbins and Rosen, are soliciting investors for a securities-fraud class action covering purchases from March 9 through June 24, 2026. The filings allege ARS did not adequately disclose that expanded CVS Caremark formulary coverage for neffy, expected to become effective July 1, 2026, could be delayed until January 2027. Pomerantz Investor Alert
• Negative Sentiment: The allegations claim shareholders suffered losses after the anticipated CVS coverage decision did not occur, with one notice citing an estimated $2.52 per-share decline. The claims remain allegations, and ARS Pharmaceuticals’ ultimate legal and financial exposure has not been established. Levi & Korsinsky Investor Alert
• Negative Sentiment: Investors have until October 5, 2026 to seek appointment as lead plaintiff. The unusually large number of law-firm notices amplifies visibility around the dispute and adds an overhang to SPRY shares.

Insiders Place Their Bets

In other news, insider Eric Karas sold 25,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $10.00, for a total value of $250,000.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander A. Fitzpatrick sold 3,355 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $10.00, for a total transaction of $33,550.00. Following the completion of the sale, the insider owned 90,910 shares of the company’s stock, valued at $909,100. This trade represents a 3.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 33.80% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

Several large investors have recently bought and sold shares of SPRY. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of ARS Pharmaceuticals by 25.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company’s stock valued at $56,000 after acquiring an additional 982 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of ARS Pharmaceuticals by 3.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,994 shares of the company’s stock worth $596,000 after purchasing an additional 1,234 shares during the period. ProShare Advisors LLC boosted its position in shares of ARS Pharmaceuticals by 11.3% during the 4th quarter. ProShare Advisors LLC now owns 15,139 shares of the company’s stock worth $176,000 after purchasing an additional 1,532 shares during the period. FAS Wealth Partners Inc. increased its holdings in ARS Pharmaceuticals by 0.9% in the 4th quarter. FAS Wealth Partners Inc. now owns 202,407 shares of the company’s stock valued at $2,358,000 after purchasing an additional 1,787 shares during the last quarter. Finally, Osaic Holdings Inc. increased its holdings in ARS Pharmaceuticals by 52.8% in the 2nd quarter. Osaic Holdings Inc. now owns 5,215 shares of the company’s stock valued at $91,000 after purchasing an additional 1,803 shares during the last quarter. Hedge funds and other institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Stock Performance

SPRY opened at $6.30 on Wednesday. The firm’s fifty day simple moving average is $7.46 and its two-hundred day simple moving average is $8.23. ARS Pharmaceuticals has a 52-week low of $4.91 and a 52-week high of $15.09. The company has a market cap of $625.61 million, a price-to-earnings ratio of -2.89 and a beta of 0.98. The company has a quick ratio of 3.28, a current ratio of 3.48 and a debt-to-equity ratio of 13.72.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its 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). The company had revenue of $33.66 million for the quarter, compared to analysts’ expectations of $31.32 million. ARS Pharmaceuticals had a negative return on equity of 256.67% and a negative net margin of 184.24%. Equities analysts anticipate that ARS Pharmaceuticals will post -1.9 earnings per share for the current fiscal year.

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.