What's Going On With ARS Pharmaceuticals Stock Today?

ARS Pharmaceuticals, Inc. SPRY shares are trading higher Thursday. The move marks a rebound in the stock following a recent drop in price.

What To Know: On Tuesday, the FDA issued a Complete Response Letter for the company's neffy epinephrine nasal spray, requesting additional study. Shares of ARS Pharmaceuticals fell in response to the news, with the stock price plunging on Wednesday and trading being halted and then resuming.

However, shares popped over 32% on Thursday on above-average volume of 12.53 million shares, compared to its average volume of 843,769.

Increased short interest in the stock, with 9.07% of shares currently sold short, could be a factor in the spike in price as well.

Also on Thursday, Wedbush analyst Andreas Argyrides maintained ARS Pharmaceuticals with a Outperform and lowered the price target from $15 to $5.

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

Image by Michal Jarmoluk from Pixabay