William Blair analyst Lachlan Hanbury Brown has maintained their bullish stance on SPRY stock, giving a Buy rating on September 6.
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Lachlan Hanbury Brown has given his Buy rating due to a combination of factors influencing ARS Pharmaceuticals’ potential growth. The recent approval of neffy in Japan represents a significant milestone, expanding its geographic reach and opening new revenue streams. This approval aligns with expectations and enhances ARS’s position in the global market for treating severe allergies, particularly as neffy is already available in the U.S. and Germany and has received approval in the U.K.
Furthermore, the company anticipates additional regulatory approvals in Canada, Australia, New Zealand, and China, which are expected to further strengthen its market presence. Despite recent stock price declines, Lachlan views these as unwarranted, considering the strategic advancements and the potential for nondilutive capital from international markets. The focus remains on the U.S. launch, but the global expansion efforts are seen as a positive indicator of ARS’s long-term growth potential.
Hanbury Brown covers the Healthcare sector, focusing on stocks such as ARS Pharmaceuticals, Harrow Health, and Apellis Pharmaceuticals. According to TipRanks, Hanbury Brown has an average return of 26.9% and a 78.13% success rate on recommended stocks.
In another report released on September 6, Cantor Fitzgerald also maintained a Buy rating on the stock with a $25.00 price target.