Andreas Argyrides, an analyst from Wedbush, reiterated the Buy rating on ARS Pharmaceuticals (SPRY – Research Report). The associated price target is $19.00.
Geoff Meacham has given his Buy rating due to a combination of factors surrounding ARS Pharmaceuticals’ promising drug, neffy. This epinephrine nasal spray is being developed to address Type 1 allergic reactions, including anaphylaxis. The crucial data from Phase 2 and Phase 3 trials presented at a major medical conference demonstrated neffy’s effectiveness, with rapid symptom resolution and positive patient responses. These findings are expected to enhance confidence in the drug’s delivery and efficacy, which is likely to facilitate its market acceptance and usage.
Moreover, ARS Pharmaceuticals is on track with its regulatory submission timeline, anticipating a resubmission of the New Drug Application (NDA) in the first half of 2024, followed by an expected product launch later in the year. The financial projections for neffy are robust, with a forecast of nearly $937 million in sales by 2030, assuming a successful launch. These positive clinical results, combined with a clear regulatory pathway and strong sales potential, underpin Meacham’s optimistic outlook on the company’s stock.
See Insiders’ Hot Stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
ARS Pharmaceuticals (SPRY) Company Description:
Silverback Therapeutics Inc is a clinical-stage biopharmaceutical company. The company is focused on leveraging its ImmunoTAC technology platform to develop tissue targeted therapeutics for the treatment of cancer, chronic viral infections, and other serious diseases.
Read More on SPRY:
