William Blair analyst Lachlan Hanbury Brown has reiterated their bullish stance on SPRY stock, giving a Buy rating on February 10.
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Lachlan Hanbury Brown has given his Buy rating due to a combination of factors including ARS Pharmaceuticals’ strategic wins in securing formulary inclusion for their product, neffy. Recently, OptumRx, Cigna Healthcare, and Navitus Health systems, through their group purchasing organization Emisar, included neffy in their national formularies, offering coverage to approximately 50% of commercial lives with minimal restrictions and low copays.
These developments align with ARS’s goals to expand coverage to more than 60% by the end of the first quarter. The momentum generated from these formulary wins positions the company well for their planned direct-to-consumer advertising campaign and the upcoming availability of neffy 1 mg for children, contingent on regulatory approval. Additionally, ARS’s strong presence at the upcoming AAAAI conference is expected to further boost awareness and support for neffy in the allergy community, potentially driving future growth.
In another report released on February 10, Oppenheimer also initiated coverage with a Buy rating on the stock with a $40.00 price target.