Patrick Trucchio, an analyst from H.C. Wainwright, reiterated the Buy rating on GH Research (GHRS – Research Report). The associated price target remains the same with $40.00.
Patrick Trucchio has given his Buy rating due to a combination of factors related to GH Research’s stock. His positive outlook is anchored by the company’s robust pipeline, particularly the progress of their Phase 2b trial for GH001, an inhalable psychedelic therapy for treatment-resistant depression (TRD). With expectations of top-line data to be released in the latter half of 2024, this phase is critical for showcasing the potential efficacy and safety of GH001. Furthermore, the upcoming data readouts from other trials, including those for postpartum depression, are anticipated to further validate the drug’s therapeutic promise and could act as significant catalysts for the stock’s performance.
Moreover, Trucchio’s confidence is bolstered by the company’s recent successful trials, where GH Research’s drugs have shown potent pharmacodynamic effects without severe or serious adverse events. The company’s engagement with the FDA regarding their proprietary inhalation device, and the submission of a Clinical Trial Application in Europe for a Phase 1 trial, demonstrates a proactive approach to clinical advancement and regulatory compliance. These developments suggest a strong potential for GH001’s successful transition through the clinical phases and eventual market entry, underpinning the Buy rating and the $40 price target set for GHRS.
In another report released on May 3, JMP Securities also reiterated a Buy rating on the stock with a $39.00 price target.
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GH Research (GHRS) Company Description:
GH Research PLC is a clinical-stage biopharmaceutical company dedicated to transforming the treatment of psychiatric and neurological disorders.
