ARS Pharmaceuticals (NASDAQ:SPRY) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS

ARS Pharmaceuticals (NASDAQ:SPRY) announced its quarterly earnings results on Thursday. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.06), FiscalAI reports. The business had revenue of $37.71 million during the quarter, compared to analyst estimates of $41.99 million. ARS Pharmaceuticals had a negative net margin of 184.24% and a negative return on equity of 256.67%.

Here are the key takeaways from ARS Pharmaceuticals’ conference call:

• Neffy continued to gain market share: Q3 U.S. net product revenue was $33.4 million, while end-user demand rose 42% year over year. Total market share exceeded 5%, and share in field-targeted accounts increased to 9% from 6% a year earlier.
• Management reaffirmed its year-end 2027 cash flow breakeven target after cutting Q3 SG&A by more than 40% versus the first-half quarterly average. The company ended the quarter with $138.4 million in cash, cash equivalents, and short-term investments.
• ARS-2 could expand the platform into chronic spontaneous urticaria: The Phase IIb trial is evaluating two doses, with interim data expected in Q1 2027 and full results later in the year. The company says an existing commercial team could support a potential on-demand treatment for breakthrough flares.
• Prescription-to-fill conversion and revenue remain execution challenges. Management cited prior authorizations as a major point of prescription drop-off; despite 42% demand growth, Q3 neffy revenue increased to $33.4 million from $31.3 million a year earlier, with inventory timing contributing to the gap. Gross-to-net remains around 50%.

ARS Pharmaceuticals Trading Down 13.1%

Shares of NASDAQ:SPRY traded down $0.40 during mid-day trading on Thursday, reaching $2.65. 2,768,594 shares of the company were exchanged, compared to its average volume of 1,788,878. ARS Pharmaceuticals has a 1 year low of $2.59 and a 1 year high of $13.15. 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 simple moving average is $4.36 and its 200 day simple moving average is $7.26. The firm has a market cap of $263.54 million, a price-to-earnings ratio of -1.22 and a beta of 0.98.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SPRY. Weiss Ratings downgraded ARS Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 17th. Leerink Partners set a $15.00 target price on shares of ARS Pharmaceuticals in a research report on Tuesday, September 8th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.33.

About ARS Pharmaceuticals

ARS Pharmaceuticals, Inc (NASDAQ: SPRY) is a biopharmaceutical company focused on developing and commercializing treatments for severe allergic reactions. The company’s lead product is neffy (epinephrine nasal spray), a needle-free alternative to injectable epinephrine designed for the emergency treatment of allergic reactions, including anaphylaxis.

Neffy was approved by the U.S. Food and Drug Administration in 2024 for adults and pediatric patients who weigh at least 30 kilograms. The product is intended to provide rapid, convenient administration without requiring a syringe or injector, which may help address barriers associated with the use of traditional epinephrine auto-injectors.