ARS Pharmaceuticals Analysts Cut Their Forecasts After Downbeat Q3 Results

ARS Pharmaceuticals (NASDAQ:SPRY) on Thursday reported weaker-than-expected results for the third quarter.

The company posted quarterly losses of 36 cents per share which missed the analyst consensus estimate of losses of 31 cents per share. The company reported quarterly sales of $37.710 million which missed the analyst consensus estimate of $41.992 million.

“In August, we committed to three corporate priorities – steady market share gains with neffy, greater financial discipline with a path to cash flow breakeven by year-end 2027, and expansion of our needle-free epinephrine platform beyond anaphylaxis. I’m proud to report that our team has delivered on each,” said Donn Casale, President and Chief Executive Officer of ARS Pharma. “Market share grew where our field team engaged; operating expenses were in line with guidance, including a 42% reduction in third-quarter SG&A expenses from the first-half 2026 quarterly average; and ARS-2 is on track for interim Phase 2b data in the first quarter of 2027.”

ARS Pharmaceuticals shares jumped 5.6% to $2.80 in pre-market trading.

These analysts made changes to their price targets on ARS Pharmaceuticals following earnings announcement.

• Raymond James analyst Ryan Deschner downgraded the stock from Strong Buy to Outperform and lowered the price target from $28 to $17.
• Cantor Fitzgerald analyst Josh Schimmer maintained the stock with an Overweight rating and lowered the price target from $30 to $20.

Considering buying SPRY stock? Here’s what analysts think:

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