Leerink analyst Roanna Ruiz upgraded ARS Pharmaceuticals to Outperform from Market Perform with a price target of $18, up from $6. The analyst now has stronger conviction in ARS’s ability to execute the remaining regulatory steps for neffy ahead of a potential approval in the second half of 2024. The firm also sees pent-up demand from physicians and patients, “eager to adopt” neffy. Leerink came away from a meeting with management with a a more positive outlook on the company’s “abundance of preparation” ahead of neffy’s launch.
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