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What's Going On With ARS Pharmaceuticals Stock Today?

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What's Going On With ARS Pharmaceuticals Stock Today?

ARS Pharmaceuticals, Inc. SPRY shares are experiencing an increase in trading volume today. After a recent decline in price, the stock is now rebounding.

What You Need to Know: On Tuesday, the FDA issued a Complete Response Letter for ARS Pharmaceuticals’ neffy epinephrine nasal spray, which requested additional study. The news led to a drop in the company’s stock price, with trading being halted and then resumed on Wednesday.

However, today the shares have surged over 32% on above-average trading volume of 12.53 million shares, compared to the average volume of 843,769.

The spike in price could also be influenced by increased short interest in the stock, with 9.07% of shares currently sold short.

Furthermore, Wedbush analyst Andreas Argyrides has maintained an Outperform rating on ARS Pharmaceuticals and adjusted the price target from $15 to $5.

Related Link: AI Demand, Positive Chinese Market Boost Micron’s Pricing Dynamics Ahead Of Earnings, Says Analyst

SPRY Price Action: As of the time of publication, shares of SPRY were up 21.9% at $3.56, according to Benzinga Pro.

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