ARS Pharmaceuticals, Inc.
$9.05
+1.7%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.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
Medium confidenceValuation multiple is compressed (P/E -5.2).
Valuation inputs: P/E -5.2, earnings yield N/A, momentum +1.7%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE -1.5%, ROIC -62.0%).
Profitability stack: net margin -2.0%, ROE -1.5%, ROIC -62.0%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceRisk profile is balanced but has notable pressure points to monitor.
Risk factors: liabilities/assets +65.1%, momentum +1.7%, net margin -2.0%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
ARS Pharmaceuticals, Inc. Market vs Earnings Trajectory
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ARS Pharmaceuticals, Inc. Fair Value Envelope
ARS Pharmaceuticals, Inc. Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Operating losses indicate the core business is unprofitable. Requires restructuring or revenue growth.
Net Profit Margin
Net losses indicate the company is burning cash. Sustainability depends on path to profitability.
Profitability Insight
Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.
ARS Pharmaceuticals, Inc. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Strong cash conversion. Most reported earnings translate into actual cash flow, suggesting solid fundamentals.
CapEx Intensity
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
FCF Growth Trend
Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.
Working Capital Impact
Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.
Cash Flow Quality Insight
Working capital strain: Significant cash tied up in operations. Monitor receivables collection, inventory turns, and payment terms to optimize cash conversion cycle.
ARS Pharmaceuticals, Inc. Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.
Debt-to-Equity Ratio
High financial leverage. Heavy reliance on debt may indicate increased financial risk and potential solvency concerns.
Working Capital
Strong working capital position provides significant operational flexibility and financial cushion.
Asset Composition
Asset-light business model with high liquidity. Majority of assets are easily convertible to cash.
Financial Health Insight
Mixed signals: Strong short-term liquidity provides comfort, but high overall leverage requires careful monitoring of debt servicing capabilities and refinancing risk.
ARS Pharmaceuticals, Inc. Street Expectations Map
Wall Street analysts project that SPRY stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 25.50, with estimates ranging from a low of 25.00 to a high of 26.00.
The consensus 1-year price target stands at 25.50, with estimates ranging from a low of 25.00 to a high of 26.00.
Analyst Consensus Analysis
Upside Potential
Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.
Analyst Agreement
High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.
Analyst Conviction
Strong buy conviction: High upside with tight consensus suggests compelling investment opportunity backed by analyst confidence.
Market Sentiment Insight
Rare opportunity: Exceptional upside potential with strong analyst consensus creates a compelling setup. The combination of significant price target premium and tight agreement suggests high-conviction undervaluation that may attract institutional capital.
ARS Pharmaceuticals, Inc. Insider Positioning
During the last 12 months, insiders have sold $1.20M worth of SPRY shares, with no buying activity reported.
3 Months
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3-6 Months
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6-9 Months
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0.00
51.8K
457.41K
-457K
-$457K
9-12 Months
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62.5K
743.10K
-743K
-$743K
Top Buyers
No buying activity
Top Sellers
Lowenthal Richard E
Director, 10 Percent Owner, Officer: President And Ceo
$724K
Chakma Justin
Officer: Chief Business Officer
$267K
Dorsey Brian
Officer: Chief Operating Officer
$190K
Scott Kathleen D.
Officer: Chief Financial Officer
$19K
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $1.20M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.
Insider Participation
4 insider sellers vs. 0 buyers. Widespread selling across multiple insiders may signal concerns.
No Dividend Yield Data
SPRY has not reported any dividend yield values in the available annual periods.
spry Dividend History
Learning Layer
Related Guides
Build conviction on SPRY by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.