GH Research (GHRS – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Jason Butler from JMP Securities remains neutral on the stock and has a $50.00 price target.
Jason Butler’s Buy rating for GH Research is primarily founded on the expectation that the recent clinical hold by the FDA is a temporary setback rather than a fundamental issue. Butler perceives this holdup as more of a procedural delay, which should not affect the underlying value of the company or its products. He has confidence in the company’s ability to address the FDA’s concerns, given GH Research’s history of productive meetings with the agency, and the fact that no safety concerns have been raised regarding GH001, GH Research’s treatment-resistant depression (TRD) drug.
Butler also places a significant emphasis on the progress of the Phase 2b trial of GH001 in Europe. Despite the FDA hold in the US, the European trial is advancing, with a substantial number of patients already enrolled. This progress, combined with the projection for the trial results to be available in 4Q24, further bolsters Butler’s optimism about GH Research’s prospects. In conclusion, Butler’s Buy rating is based on his belief that the FDA hold is a temporary hurdle and his confidence in the ongoing successful trials in Europe.
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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.
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