10 Unstoppable Stocks That Could Double Your Money

5. ARS Pharmaceuticals Inc. (NASDAQ:SPRY)

1-Year Return: 27%

Upside Potential: 138%

Number of Hedge Fund Holders: 28

ARS Pharmaceuticals Inc. (NASDAQ:SPRY) is a biopharmaceutical company focused on developing neffy, a needle-free epinephrine nasal spray designed to treat severe allergic reactions, including anaphylaxis which is known as a fatal condition. Neffy is intended to offer a quick, effective, and user-friendly alternative to traditional epinephrine auto-injectors.

Currently, except for neffy, epinephrine is the only approved in injectable form for the emergency treatment of Type I allergic reactions. With more launches planned, neffy is positioned to be the first needle-free, easy-to-use epinephrine rescue option, giving patients a new, more convenient choice. The company sees a significant market opportunity, with management estimating a potential multi-billion-dollar market ($3 billion prescription segment and up to a $7 billion expansion segment), driven by healthcare providers and patient preference.

On March 7, William Blair analyst Lachlan Hanbury Brown reaffirmed a Buy rating on ARS Pharmaceuticals, noting positive early indicators following neffy’s launch. The company slightly exceeded revenue expectations, reflecting solid initial demand. The analyst also noted progress with healthcare providers, as many have already prescribed neffy and shared encouraging feedback through the neffy experience program. The company also secured favourable insurance coverage with key players like Express Scripts and Cigna, which is expected to accelerate market access faster than planned.