Raymond James analyst Ryan Deschner has maintained their bullish stance on SPRY stock, giving a Buy rating on September 23.
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Ryan Deschner has given his Buy rating due to a combination of factors including the recent uptick in market share and script volume for ARS Pharmaceuticals’ product, Neffy. The data shows a meaningful increase in market share from 3.35% to 3.74% and a 3% rise in script volume, which is unusual for this time of year in the epinephrine market. This suggests that the launch of Neffy is gaining momentum, potentially overcoming the typical seasonal downturns seen in the latter part of the third quarter and into the fourth quarter.
Additionally, the high short interest in SPRY, currently around 40%, indicates that if the positive trend continues and the bullish thesis is realized, the investor reaction could be significant. The combination of these factors suggests a favorable outlook for ARS Pharmaceuticals, justifying the Buy rating.