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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $28.20.

Several brokerages have weighed in on SPRY. Weiss Ratings lowered ARS Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 17th. Wall Street Zen raised ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Cantor Fitzgerald increased their price target on ARS Pharmaceuticals from $12.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Finally, Leerink Partners decreased their price objective on ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday, June 25th.

Key Stories Impacting ARS Pharmaceuticals

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

• Negative Sentiment: Multiple firms, including Rosen Law Firm, Kaplan Fox, Faruqi & Faruqi, and others, are soliciting investors who purchased SPRY shares between March 9 and June 24, 2026, in connection with a securities class action. The litigation creates potential legal costs, reputational risk, and uncertainty for shareholders. Rosen Law Firm class action announcement
• Negative Sentiment: The allegations reportedly focus on whether ARS adequately disclosed the risk that CVS Caremark’s formulary process could delay coverage for neffy until January 2027. A delay could cause the product to miss the summer and back-to-school allergy seasons, potentially weighing on near-term sales expectations. SueWallSt ARS investor alert
• Neutral Sentiment: The October 5 deadline is procedural and does not establish that ARS violated securities laws; the allegations remain unproven. Investors who qualify may seek lead-plaintiff status or participate through the litigation process without upfront legal fees. SBS ARS securities lawsuit announcement

ARS Pharmaceuticals Stock Down 0.9%

SPRY opened at $5.62 on Friday. ARS Pharmaceuticals has a twelve month low of $4.91 and a twelve month high of $13.15. The company’s 50-day moving average price is $6.47 and its two-hundred day moving average price is $7.88. The stock has a market cap of $558.89 million, a price-to-earnings ratio of -2.58 and a beta of 1.05. 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 issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, equities analysts expect that ARS Pharmaceuticals will post -1.9 earnings per share for the current year.

Insider Transactions at ARS Pharmaceuticals

In other news, insider Eric Karas sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $10.00, for a total value of $250,000.00. Following the sale, the insider owned 12,176 shares of the company’s stock, valued at $121,760. The trade was a 67.25% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander A. Fitzpatrick sold 3,355 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $10.00, for a total transaction of $33,550.00. Following the sale, the insider owned 90,910 shares in the company, valued at $909,100. The trade was a 3.56% decrease in their ownership of the stock. 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 company insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of SPRY. Allianz Asset Management GmbH purchased a new stake in shares of ARS Pharmaceuticals during the second quarter worth $82,000. Corient Private Wealth LP grew its position in shares of ARS Pharmaceuticals by 12.5% in the second quarter. Corient Private Wealth LP now owns 91,042 shares of the company’s stock valued at $729,000 after purchasing an additional 10,099 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of ARS Pharmaceuticals by 588.5% during the 2nd quarter. California State Teachers Retirement System now owns 369,445 shares of the company’s stock valued at $2,959,000 after purchasing an additional 315,787 shares during the period. Syon Capital LLC bought a new stake in shares of ARS Pharmaceuticals during the 2nd quarter valued at $80,000. Finally, Headlands Technologies LLC lifted its holdings in ARS Pharmaceuticals by 56.2% during the 2nd quarter. Headlands Technologies LLC now owns 75,279 shares of the company’s stock worth $603,000 after purchasing an additional 27,073 shares in the last quarter. Institutional investors 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.