ARS Pharmaceuticals (NASDAQ:SPRY) Issues 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.06), FiscalAI reports. The firm had revenue of $37.71 million for the quarter, compared to the consensus estimate 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 Up 5.3%

SPRY stock traded up $0.14 during trading hours on Friday, hitting $2.79. 5,672,082 shares of the stock were exchanged, compared to its average volume of 1,668,914. ARS Pharmaceuticals has a 12 month low of $2.44 and a 12 month high of $13.15. The company has a 50-day simple moving average of $4.36 and a two-hundred day simple 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Raymond James Financial cut ARS Pharmaceuticals from a “strong-buy” rating to an “outperform” rating in a research note on Friday. Weiss Ratings lowered ARS Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, August 17th. Finally, Leerink Partners set a $15.00 target price on ARS Pharmaceuticals in a report on Tuesday, September 8th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, ARS Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus 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

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.