Raymond James positive on ARS Pharmaceuticals after weekly data

Raymond James says ARS Pharmaceuticals (SPRY)’ Neffy market share “increased meaningfully” week-over-week, from 3.35% to 3.74%, in the latest Iqvia data while script volume increased by 3%. This is “very atypical” this time of year in the epinephrine market, the analyst tells investors in a research note. The firm admits weekly data could be volatile but thinks it could show Neffy’s launch is getting back on track. ARS’s short interest is “massive” at 40% of outstanding shares, so if the positive script trends continue, “the investor response is unlikely to be subtle,” contends Raymond James. The firm reiterates a Strong Buy rating on the stock with a $32 price target