ARS Pharmaceuticals (NASDAQ:SPRY) Trading Up 5.6% – What’s Next?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s share price rose 5.6% during trading on Monday . The company traded as high as $5.90 and last traded at $5.9650. 352,616 shares were traded during mid-day trading, a decline of 80% from the average session volume of 1,746,268 shares. The stock had previously closed at $5.65.

Key Stories Impacting ARS Pharmaceuticals

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.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald upped their target price on ARS Pharmaceuticals from $12.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Weiss Ratings lowered shares of ARS Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. Leerink Partners decreased their price target on shares of ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Thursday, June 25th. Finally, Wall Street Zen upgraded shares of ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.20.

ARS Pharmaceuticals Trading Up 1.0%

The stock has a market capitalization of $625.61 million, a PE ratio of -2.89 and a beta of 0.98. The company has a current ratio of 3.48, a quick ratio of 3.28 and a debt-to-equity ratio of 13.72. The firm has a 50-day moving average price of $7.46 and a 200-day moving average price of $8.23.

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). ARS Pharmaceuticals had a negative return on equity of 256.67% and a negative net margin of 184.24%.The company had revenue of $33.66 million for the quarter, compared to analysts’ expectations of $31.32 million. As a group, equities analysts forecast that ARS Pharmaceuticals, Inc. will post -1.9 EPS for the current fiscal year.

Insider Transactions at ARS Pharmaceuticals

In related news, insider Alexander A. Fitzpatrick sold 3,355 shares of the business’s stock in a transaction dated 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 approximately $909,100. The trade was a 3.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $10.00, for a total transaction of $250,000.00. Following the sale, the insider directly owned 12,176 shares in the company, valued at approximately $121,760. This trade represents a 67.25% 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. Insiders own 33.80% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Torren Management LLC purchased a new position in ARS Pharmaceuticals in the 4th quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of ARS Pharmaceuticals by 25.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company’s stock worth $56,000 after acquiring an additional 982 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of ARS Pharmaceuticals by 3,102.1% in the first quarter. Bessemer Group Inc. now owns 7,525 shares of the company’s stock worth $61,000 after acquiring an additional 7,290 shares during the period. Osterweis Capital Management Inc. bought a new position in shares of ARS Pharmaceuticals in the fourth quarter worth $65,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of 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 acquiring an additional 4,427 shares during the period. 68.16% of the stock is currently owned by hedge funds and other institutional investors.

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.