ARS Pharmaceuticals (NASDAQ:SPRY) Stock Price Up 5.9% – Time to Buy?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s share price traded up 5.9% during mid-day trading on Wednesday . The stock traded as high as $6.07 and last traded at $6.06. 689,919 shares were traded during trading, a decline of 61% from the average session volume of 1,751,661 shares. The stock had previously closed at $5.72.

Key ARS Pharmaceuticals News

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

• Neutral Sentiment: Several investor-rights firms, including Pomerantz, Bragar Eagel & Squire, and Bronstein, Gewirtz & Grossman, publicized the same class action against ARS Pharmaceuticals and certain officers. Investors who purchased shares between March 9 and June 24, 2026, have been reminded of an October 5, 2026, deadline to seek lead-plaintiff status. These notices are generally solicitations and do not represent court findings that the allegations are true. Pomerantz investor alert Bragar Eagel & Squire announcement
• Negative Sentiment: The lawsuit alleges that ARS Pharmaceuticals misled investors about the timing of expanded CVS Caremark formulary coverage for neffy, its needle-free epinephrine product. According to the reports, investors expected coverage beginning July 1, 2026, but the timeline was allegedly delayed to January 2027. The company’s shares reportedly fell 23.9% in one session after the issue emerged, creating potential liability, litigation costs, and reputational risk. SueWallSt lawsuit report Levi & Korsinsky lawsuit report
• Negative Sentiment: The legal overhang comes as SPRY trades below both its 50-day and 200-day moving averages and well below its one-year high. Investors should monitor the eventual CVS Caremark coverage outcome, neffy commercial performance, and developments in the securities litigation. Rosen lawsuit deadline notice

Analysts Set New Price Targets

A number of research firms have recently weighed in on SPRY. Weiss Ratings lowered shares of ARS Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 17th. Leerink Partners decreased their target price on shares of ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday, June 25th. Wall Street Zen raised shares of ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Cantor Fitzgerald boosted their price target on ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ARS Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $28.20.

ARS Pharmaceuticals Price Performance

The stock has a market cap of $599.67 million, a price-to-earnings ratio of -2.77 and a beta of 0.98. The company has a debt-to-equity ratio of 13.72, a current ratio of 3.48 and a quick ratio of 3.28. The firm’s 50-day moving average is $6.92 and its 200 day moving average is $8.02.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its earnings results on Thursday, August 13th. The company reported ($0.63) earnings per share 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 firm had revenue of $33.66 million during the quarter, compared to analyst estimates of $31.32 million. Sell-side analysts anticipate that ARS Pharmaceuticals, Inc. will post -1.9 earnings per share for the current fiscal year.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, insider Alexander A. Fitzpatrick sold 3,355 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $10.00, for a total value of $33,550.00. Following the transaction, the insider owned 90,910 shares of the company’s stock, 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 SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Karas sold 25,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $10.00, for a total transaction of $250,000.00. Following the completion of the transaction, the insider directly owned 12,176 shares in the company, valued at approximately $121,760. This represents a 67.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 33.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Torren Management LLC purchased a new position in ARS Pharmaceuticals in the 4th quarter valued at about $32,000. Osaic Holdings Inc. grew its position in shares of ARS Pharmaceuticals by 52.8% during the second quarter. Osaic Holdings Inc. now owns 5,215 shares of the company’s stock worth $91,000 after buying an additional 1,803 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in shares of ARS Pharmaceuticals during the fourth quarter worth approximately $65,000. BNP Paribas Financial Markets increased its stake in shares of ARS Pharmaceuticals by 58.3% in the second quarter. BNP Paribas Financial Markets now owns 6,097 shares of the company’s stock worth $106,000 after buying an additional 2,245 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in ARS Pharmaceuticals by 197.5% in the third quarter. Russell Investments Group Ltd. now owns 6,668 shares of the company’s stock worth $67,000 after purchasing an additional 4,427 shares in the last quarter. 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.