ARS Pharmaceuticals (NASDAQ:SPRY) Stock Price Down 6.3% – Here’s Why

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s share price fell 6.3% during trading on Thursday . The stock traded as low as $6.10 and last traded at $5.98. Approximately 131,845 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 1,747,773 shares. The stock had previously closed at $6.38.

Key ARS Pharmaceuticals News

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

• Positive Sentiment: Wall Street’s average price target implies substantial potential upside from recent levels, while improving earnings-estimate revisions could provide some support. However, the article cautions that analyst price targets are not always reliable. Zacks analyst price target article
• Neutral Sentiment: Several firms, including Robbins LLP, Kaplan Fox, SBS Law, Pomerantz, Rosen, Bronstein Gewirtz and Faruqi & Faruqi, are soliciting investors affected by the lawsuit. Investors seeking lead-plaintiff status generally face an October 5, 2026 deadline. These announcements largely repeat previously reported litigation information rather than introduce a new operating development. Kaplan Fox class action notice
• Negative Sentiment: The complaint alleges ARS failed to adequately warn investors that a planned July 1, 2026 CVS Caremark formulary decision for neffy could be delayed until January 2027. The lawsuit claims the missed coverage milestone contributed to a loss of approximately $2.52 per share. If the allegations are substantiated, the case could lead to legal costs, damages, and additional scrutiny of ARS’s communications. SPRY investor alert regarding CVS Caremark coverage

Analysts Set New Price Targets

SPRY has been the topic of several recent research reports. Wall Street Zen raised ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings lowered ARS Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. Leerink Partners reduced their target price on ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Thursday, June 25th. Finally, Cantor Fitzgerald lifted their price target on shares of ARS Pharmaceuticals from $12.00 to $30.00 and gave the stock an “overweight” rating in a research note 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $28.20.

ARS Pharmaceuticals Stock Performance

The stock has a market cap of $547.95 million, a P/E ratio of -2.53 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 business’s 50 day simple moving average is $7.24 and its 200 day simple moving average is $8.16.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings data 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 company had revenue of $33.66 million for the quarter, compared to analyst estimates of $31.32 million. On average, analysts expect that ARS Pharmaceuticals, Inc. will post -1.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ARS Pharmaceuticals news, insider Alexander A. Fitzpatrick sold 3,355 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $10.00, for a total value of $33,550.00. Following the sale, the insider directly owned 90,910 shares in the company, valued at $909,100. This represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Karas sold 25,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $10.00, for a total value of $250,000.00. Following the transaction, the insider owned 12,176 shares of the company’s stock, valued at $121,760. This represents a 67.25% 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. Corporate insiders own 33.80% of the company’s stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

A number of hedge funds have recently made changes to their positions in SPRY. Hennion & Walsh Asset Management Inc. acquired a new position in ARS Pharmaceuticals in the second quarter valued at about $1,407,000. Investment Management Associates Inc. ADV acquired a new stake in shares of ARS Pharmaceuticals during the fourth quarter worth approximately $3,629,000. Creek Drive Management Group LLC acquired a new stake in shares of ARS Pharmaceuticals during the fourth quarter worth approximately $3,447,000. Rubric Capital Management LP raised its stake in shares of 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 acquiring an additional 1,800,000 shares during the last quarter. Finally, UBS Group AG raised its stake in shares of ARS Pharmaceuticals by 235.0% in the fourth quarter. UBS Group AG now owns 2,210,866 shares of the company’s stock valued at $25,757,000 after acquiring an additional 1,550,980 shares during the last quarter. Institutional investors and hedge funds own 68.16% of the company’s stock.

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.