ARS Pharmaceuticals (NASDAQ:SPRY) Trading Up 5.9% – Here’s Why

Posted by Stanley Muller on Aug 26th, 2026

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY – Get Free Report) shot up 5.9% on Wednesday . The stock traded as high as $6.07 and last traded at $6.06. 689,919 shares traded hands during trading, a decline of 61% from the average daily volume of 1,751,661 shares. The stock had previously closed at $5.72.

More ARS Pharmaceuticals News

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

Neutral Sentiment: Several firms, including Kaplan Fox, Faruqi & Faruqi, Levi & Korsinsky, and Rosen, reminded investors that October 5, 2026 is the deadline to seek appointment as lead plaintiff in the pending federal securities lawsuit. These announcements largely repeat previously reported information rather than introduce a new operational development. Kaplan Fox class action deadline notice
Negative Sentiment: The litigation alleges that ARS Pharmaceuticals and Chief Commercial Officer Eric Karas misled investors about the timing of expanded CVS Caremark coverage for neffy, the company’s needle-free epinephrine product. The allegations relate to a reported single-session decline of 23.9% in SPRY shares after the market received adverse information. The claims have not been proven, but the lawsuit adds legal, reputational, and potential financial risk. Levi and Korsinsky ARS lawsuit notice
Negative Sentiment: The unusually large number of investor-law-firm solicitations may keep attention focused on the company’s disclosure practices and neffy reimbursement outlook. Investors should monitor ARS’s responses, court developments, and any updates regarding CVS Caremark coverage. Faruqi and Faruqi ARS investor notice

Analyst Ratings Changes

SPRY has been the subject of a number of research reports. 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 reduced their price target on shares of ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday, June 25th. Wall Street Zen raised shares of ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Cantor Fitzgerald increased their price objective on shares of ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $28.20.

Check Out Our Latest Analysis on SPRY

ARS Pharmaceuticals Stock Performance

The stock has a market capitalization of $602.67 million, a PE ratio of -2.78 and a beta of 0.98. The business’s 50 day moving average is $7.07 and its 200 day moving average is $8.08. The company has a current ratio of 3.48, a quick ratio of 3.28 and a debt-to-equity ratio of 13.72.

ARS Pharmaceuticals (NASDAQ:SPRY – Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($0.63) EPS 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 business had revenue of $33.66 million for the quarter, compared to the consensus estimate of $31.32 million. On average, equities research analysts predict that ARS Pharmaceuticals, Inc. will post -1.9 earnings per share for the current fiscal year.

Insider Activity at ARS Pharmaceuticals

In related 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 transaction of $33,550.00. Following the completion of the sale, the insider directly owned 90,910 shares in the company, valued at $909,100. This represents a 3.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 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 directly owned 12,176 shares in the company, valued at approximately $121,760. The trade was a 67.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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

Several large investors have recently added to or reduced their stakes in SPRY. Torren Management LLC acquired a new stake in ARS Pharmaceuticals during the fourth quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. grew its stake in ARS Pharmaceuticals by 25.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company’s stock valued at $56,000 after acquiring an additional 982 shares in the last quarter. Bessemer Group Inc. grew its holdings in ARS Pharmaceuticals by 3,102.1% in the 1st quarter. Bessemer Group Inc. now owns 7,525 shares of the company’s stock valued at $61,000 after buying an additional 7,290 shares in the last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of ARS Pharmaceuticals in the 4th quarter valued at approximately $65,000. Finally, Russell Investments Group Ltd. increased its position in shares of ARS Pharmaceuticals by 197.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,668 shares of the company’s stock worth $67,000 after purchasing an additional 4,427 shares during the last quarter. Hedge funds and other institutional investors own 68.16% of the company’s stock.

About ARS Pharmaceuticals

(Get Free Report)

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.