ARS Pharmaceuticals (NASDAQ:SPRY) Upgraded by Wall Street Zen to Sell Rating

Wall Street Zen upgraded shares of ARS Pharmaceuticals (NASDAQ:SPRY) from a strong sell rating to a sell rating in a research note issued to investors on Saturday.

SPRY has been the topic of several other reports. Northland Securities assumed coverage on shares of ARS Pharmaceuticals in a research note on Thursday, April 9th. They set an “outperform” rating and a $25.00 price target on the stock. Leerink Partners set a $26.00 price objective on shares of ARS Pharmaceuticals and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. Zacks Research raised ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 25th. Finally, Weiss Ratings downgraded ARS Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $28.25.

ARS Pharmaceuticals Stock Down 6.4%

Shares of SPRY opened at $7.43 on Friday. The company has a market capitalization of $737.80 million, a P/E ratio of -3.70 and a beta of 0.93. The company has a debt-to-equity ratio of 1.47, a current ratio of 7.28 and a quick ratio of 7.06. ARS Pharmaceuticals has a one year low of $6.66 and a one year high of $18.90. The business’s 50 day simple moving average is $8.30 and its 200-day simple moving average is $9.29.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its earnings results on Friday, May 15th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.08). The business had revenue of $22.68 million during the quarter, compared to analyst estimates of $22.20 million. ARS Pharmaceuticals had a negative return on equity of 100.29% and a negative net margin of 203.25%. As a group, sell-side analysts predict that ARS Pharmaceuticals will post -1.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Quantinno Capital Management LP lifted its holdings in ARS Pharmaceuticals by 90.9% during the 1st quarter. Quantinno Capital Management LP now owns 101,412 shares of the company’s stock worth $814,000 after buying an additional 48,299 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of ARS Pharmaceuticals during the 1st quarter valued at $3,389,000. Investment Management Associates Inc. ADV raised its position in shares of ARS Pharmaceuticals by 15.3% during the 1st quarter. Investment Management Associates Inc. ADV now owns 359,074 shares of the company’s stock valued at $2,883,000 after acquiring an additional 47,571 shares during the last quarter. Bessemer Group Inc. raised its position in shares of ARS Pharmaceuticals by 3,102.1% during the 1st quarter. Bessemer Group Inc. now owns 7,525 shares of the company’s stock valued at $61,000 after acquiring an additional 7,290 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of ARS Pharmaceuticals by 46.1% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 31,568 shares of the company’s stock valued at $253,000 after acquiring an additional 9,954 shares during the last quarter. Institutional investors and hedge funds own 68.16% of the company’s stock.

Trending Headlines about ARS Pharmaceuticals

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

• Positive Sentiment: Q1 2026 revenue rose to $22.7 million, well above last year’s level, driven by $17.5 million in U.S. neffy product sales and additional collaboration/supply revenue. Article Title
• Positive Sentiment: Management said the CVS Caremark formulary proposal for neffy is in the final stages, with a more definitive update expected soon, which could improve payer access and support future sales growth. Article Title
• Positive Sentiment: ARS Pharma expanded its sales force to 148 representatives, and more than 28,000 healthcare providers have prescribed neffy to date, signaling growing commercial traction. Article Title
• Neutral Sentiment: The company said its Phase 2b chronic spontaneous urticaria study is fully enrolled and still on track for a Q4 2026 readout, a longer-term pipeline catalyst rather than an immediate driver. Article Title
• Negative Sentiment: Despite revenue beat, ARS Pharma posted a Q1 loss of $0.61 per share, wider than the $0.53 consensus estimate, reinforcing concerns about profitability and high spending. Article Title
• Negative Sentiment: SG&A expenses remained very high at $72.2 million, suggesting heavy commercialization spending is still weighing on earnings. Article Title
• Negative Sentiment: An analyst note also showed a downgrade to Sell, adding to cautious sentiment around the shares. Article Title

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.