Cantor starts ARS at Overweight, sees 111% potential upside

Cantor Fitzgerald analyst Josh Schimmer last night initiated coverage of ARS Pharmaceuticals with an Overweight rating and $30 price target, representing 111% upside from current levels. The company recently received FDA approval of neffy, an intra-nasal epinephrine for treatment of type I allergic reactions, the analyst tells investors in a research note. The firm says ARS’s Intravail absorption technology addresses the topical toxicity risks that epinephrine can otherwise pose, while also providing durable intellectual property.