William Blair analyst Lachlan Hanbury Brown has reiterated their bullish stance on SPRY stock, giving a Buy rating on March 7.
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Lachlan Hanbury Brown has given his Buy rating due to a combination of factors including ARS Pharmaceuticals’ strong initial market performance and strategic advancements. The company reported net product revenues for neffy that slightly exceeded expectations, indicating a positive market reception. Additionally, ARS has made notable progress in engaging healthcare professionals, with a significant number having already prescribed neffy, and has received positive feedback from its neffy experience program.
Furthermore, ARS Pharmaceuticals has achieved significant milestones in securing insurance coverage, with favorable decisions from major plans like Express Scripts and Cigna Healthcare. The company is on track to achieve substantial commercial coverage earlier than previously anticipated, which is crucial for driving future sales. These strategic moves and positive market indicators underpin Lachlan Hanbury Brown’s confidence in recommending a Buy rating for ARS Pharmaceuticals.
In another report released on March 7, Scotiabank also initiated coverage with a Buy rating on the stock with a $30.00 price target.