Roth starts ARS Pharmaceuticals at Buy, sees ‘vast improvement’ from Neffy

As previously reported, Roth Capital analyst Jason Wittes initiated coverage of ARS Pharmaceuticals (SPRY) with a Buy rating and $40 price target The firm calls the company’s neffy – the first needle-free way to administer epinephrine – a “vast improvement” over auto-injectors in terms of safety, dosing, and the form factor, and with 93% commercial payer coverage and a DTC campaign underway, it sees and “aggressive ramp” in sales leading to at least 60% share of the epinephrine market, the analyst tells investors in a research note. Roth further cites the company having a “$3B market opportunity” and upside from market expansion.