SPRY

Company Overview — What Does ARS Pharmaceuticals, Inc. Do?

ARS Pharmaceuticals, Inc. develops ARS-1, a novel intranasal epinephrine spray with absorption technology for patients and their families at-risk of severe allergic reactions to food, medications, and insect bites. Its product includes Neffy, a low-dose intranasal epinephrine nasal spray. The company was incorporated in 2015 and is based in San Diego, California. ARS Pharmaceuticals, Inc. (SPRY) is classified as a small-cap stock in the Healthcare sector, specifically within the Pharmaceutical Products industry. The company is led by CEO Richard E. Lowenthal and employs approximately 90 people. With a market capitalization of $805M, SPRY is one of the notable companies in the Healthcare sector.

ARS Pharmaceuticals, Inc. (SPRY) Stock Rating — Avoid (April 2026)

As of April 2026, ARS Pharmaceuticals, Inc. receives a Avoid rating with a composite score of 26.4/100 and 1 out of 5 stars from the Blank Capital Research quantitative model.SPRY ranks #4,024 out of 4,446 stocks in our coverage universe. Within the Healthcare sector, ARS Pharmaceuticals, Inc. ranks #699 of 838 stocks, placing it in the lower half of its Healthcare peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

SPRY Stock Price and 52-Week Range

ARS Pharmaceuticals, Inc. (SPRY) currently trades at $8.05. The stock lost $0.22 (2.7%) in the most recent trading session. The 52-week high for SPRY is $18.90, which means the stock is currently trading -57.4% from its annual peak. The 52-week low is $6.66, putting the stock 20.9% above its annual trough. Recent trading volume was 722K shares, suggesting relatively thin trading activity.

Is SPRY Overvalued or Undervalued? — Valuation Analysis

ARS Pharmaceuticals, Inc. (SPRY) carries a value factor score of 19/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 7.08x, versus the sector average of 2.75x. The price-to-sales ratio is 13.89x, compared to 1.66x for the average Healthcare stock.

At current multiples, ARS Pharmaceuticals, Inc. trades at a premium to most Healthcare peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

ARS Pharmaceuticals, Inc. Profitability — ROE, Margins, and Quality Score

ARS Pharmaceuticals, Inc. (SPRY) earns a quality factor score of 21/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -130.5%, compared to the Healthcare sector average of -43.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -45.5% versus the sector average of -33.1%.

On a margin basis, ARS Pharmaceuticals, Inc. reports gross margins of 100.0%, compared to 71.5% for the sector. The operating margin is -496.1% (sector: -66.1%). Net profit margin stands at -448.4%, versus -58.7% for the average Healthcare stock. Revenue growth is running at 6400.2% on a trailing basis, compared to 10.6% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

SPRY Debt, Balance Sheet, and Financial Health

ARS Pharmaceuticals, Inc. has a debt-to-equity ratio of 84.0%, compared to the Healthcare sector average of 32.0%. Leverage is within a manageable range for the industry, though investors should monitor debt trends over time. The current ratio is 7.28x, indicating strong short-term liquidity. Total debt on the balance sheet is $96M. Cash and equivalents stand at $60M.

SPRY has a beta of 0.97, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for ARS Pharmaceuticals, Inc. is 37/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

ARS Pharmaceuticals, Inc. Revenue and Earnings History — Quarterly Trend

In TTM 2026, ARS Pharmaceuticals, Inc. reported revenue of $58M and earnings per share (EPS) of $-1.74. Net income for the quarter was $-149M. Gross margin was 100.0%. Operating income came in at $-160M.

In FY 2025, ARS Pharmaceuticals, Inc. reported revenue of $84M and earnings per share (EPS) of $-1.74. Net income for the quarter was $-171M. Revenue grew -5.5% year-over-year compared to FY 2024. Operating income came in at $-179M.

In Q3 2025, ARS Pharmaceuticals, Inc. reported revenue of $33M and earnings per share (EPS) of $-0.52. Net income for the quarter was $-51M. Revenue grew 1471.6% year-over-year compared to Q3 2024. Operating income came in at $-53M.

In Q2 2025, ARS Pharmaceuticals, Inc. reported revenue of $16M and earnings per share (EPS) of $-0.46. Net income for the quarter was $-45M. Gross margin was 100.0%. Revenue grew 3043.4% year-over-year compared to Q2 2024. Operating income came in at $-48M.

Over the past 8 quarters, ARS Pharmaceuticals, Inc. has demonstrated a growth trajectory, with revenue expanding from $500,000 to $58M. Investors analyzing SPRY stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

SPRY Dividend Yield and Income Analysis

ARS Pharmaceuticals, Inc. (SPRY) does not currently pay a dividend. This is common among smaller companies in the Pharmaceutical Products industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Healthcare dividend stocks may want to explore other Healthcare stocks or use the stock screener to filter by dividend yield.

SPRY Momentum and Technical Analysis Profile

ARS Pharmaceuticals, Inc. (SPRY) has a momentum factor score of 23/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 20/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 61/100 reflects moderate short selling activity.

SPRY vs Competitors — Healthcare Sector Ranking and Peer Comparison

Within the Healthcare sector, ARS Pharmaceuticals, Inc. (SPRY) ranks #699 out of 838 stocks based on the Blank Capital composite score. This places SPRY in the lower half of all Healthcare stocks in our coverage universe. Key competitors and sector peers include ASTRAZENECA PLC (AZN) with a score of 61.4/100, Sol-Gel Technologies Ltd. (SLGL) with a score of 56.6/100, VIEMED HEALTHCARE, INC. (VMD) with a score of 53.4/100, Innoviva, Inc. (INVA) with a score of 52.7/100, and JOHNSON & JOHNSON (JNJ) with a score of 51.7/100.

Comparing SPRY against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full SPRY vs S&P 500 (SPY) comparison to assess how ARS Pharmaceuticals, Inc. stacks up against the broader market across all factor dimensions.

SPRY Next Earnings Date

No upcoming earnings date has been announced for ARS Pharmaceuticals, Inc. (SPRY) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy SPRY? — Investment Thesis Summary

The quantitative profile for ARS Pharmaceuticals, Inc. suggests caution. The quality score of 21/100 flags below-average profitability. The value score of 19/100 indicates premium valuation. Momentum is weak at 23/100, a headwind for near-term performance. High volatility (stability score 37/100) increases portfolio risk.

In summary, ARS Pharmaceuticals, Inc. (SPRY) earns a Avoid rating with a composite score of 26.4/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on SPRY stock.

Related Resources for SPRY Investors

Explore more research and tools: SPRY vs S&P 500 comparison, top Healthcare stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare SPRY head-to-head with peers: SPRY vs AZN, SPRY vs SLGL, SPRY vs VMD.