William Blair analyst Lachlan Hanbury Brown has maintained their bullish stance on SPRY stock, giving a Buy rating on August 14.
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Lachlan Hanbury Brown has given his Buy rating due to a combination of factors that highlight ARS Pharmaceuticals’ strong market position and growth potential. The company’s ongoing launch of neffy in the U.S. is progressing well, with effective marketing and sales strategies aimed at increasing awareness and adoption. Despite a recent dip in stock prices following the second-quarter earnings report, the performance was solid, and the company is well-prepared for the upcoming back-to-school season, which is expected to drive further market share gains.
Management’s confidence in meeting third-quarter expectations is supported by positive trends in ex-factory orders and continued market share growth. The direct-to-consumer marketing campaign is significantly enhancing product awareness, which is a key factor in driving adoption. These elements, combined with the company’s strategic initiatives, underpin the Buy rating as ARS Pharmaceuticals is positioned to capitalize on its current momentum and achieve its growth targets.
In another report released on August 14, Raymond James also reiterated a Buy rating on the stock with a $32.00 price target.
Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SPRY in relation to earlier this year.