ARS Pharmaceuticals (NASDAQ:SPRY) Issues Quarterly Earnings Results

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

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 Stock Up 5.3%

Shares of NASDAQ SPRY traded up $0.14 on Friday, hitting $2.79. The company had a trading volume of 5,672,082 shares, compared to its average volume of 1,739,857. ARS Pharmaceuticals has a 12-month low of $2.44 and a 12-month high of $13.15. The business has a 50 day moving average of $4.36 and a two-hundred day moving average of $7.26. The company has a quick ratio of 3.28, a current ratio of 3.48 and a debt-to-equity ratio of 13.72. The firm has a market capitalization of $277.46 million, a P/E ratio of -1.28 and a beta of 0.98.

Analyst Ratings Changes

A number of analysts recently issued reports on SPRY shares. Weiss Ratings downgraded shares of ARS Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 17th. Raymond James Financial cut shares of ARS Pharmaceuticals from a “strong-buy” rating to an “outperform” rating in a research report on Friday. Finally, Leerink Partners set a $15.00 price objective on shares of ARS Pharmaceuticals in a research note on Tuesday, September 8th. Four equities 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.33.

Key Headlines Impacting ARS Pharmaceuticals

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

• Positive Sentiment: ARS said neffy’s U.S. market share has surpassed 5% and is targeting cash-flow breakeven by year-end 2027, offering investors signs of product adoption and a longer-term financial milestone. Article: ARS targets cash-flow breakeven as neffy share surpasses 5%
• Neutral Sentiment: Raymond James cut its rating from Strong Buy to Outperform but maintained a $17 price target. The downgrade may temper sentiment, though the firm’s revised rating remains positive. Article: Raymond James rating and price target
• Negative Sentiment: Third-quarter results fell short of expectations: ARS reported a $0.36-per-share loss versus an approximately $0.30 consensus loss, while revenue of $37.71 million missed the $41.99 million estimate. The shortfall could weigh on near-term sentiment. Article: ARS reports Q3 loss and misses revenue estimates

ARS Pharmaceuticals Company Profile

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.