ARS Pharmaceuticals price target raised to $28 from $26 at Raymond James

Raymond James raised the firm’s price target on ARS Pharmaceuticals (SPRY) to $28 from $26 and keeps a Strong Buy rating on the shares. ARS Pharmaceuticals pre-announced Q4 net sales of $6.5M, well above Street estimates, driven by increasing awareness and patient access, the analyst tells investors in a research note. Based on ARS’s disclosure that roughly 14,500 neffy 2-packs were delivered in the fourth quarter, script data implies a capture rate of about 60% this quarter, which is very low but “unsurprising” given the early stage of the launch, the firm says.