Patrick Trucchio, an analyst from H.C. Wainwright, reiterated the Buy rating on GH Research (GHRS – Research Report). The associated price target is $40.00.
Patrick Trucchio’s Buy rating for GH Research is based on several encouraging factors surrounding the company’s progress with its lead compound, GH001. The compound, an inhalable psychedelic, is advancing through multiple Phase 2 trials with key data readouts anticipated in the near future. Specifically, the enrollment in the European Phase 2b trial for treatment-resistant depression is proceeding on schedule, with significant data expected in the latter half of 2024 that could substantially de-risk the lead program. Additionally, GH Research is preparing to discuss the clinical hold on its Investigational New Drug application with the FDA, aiming to further develop its proprietary aerosol inhalation device.
Furthermore, Trucchio highlights GH Research’s robust intellectual property portfolio and the distinct advantages of GH001’s route of administration and pharmacokinetics profile compared to potential competitors. Despite facing a setback with the clinical hold, he believes that the company has adequate time to resolve regulatory concerns without affecting the progress of the European Phase 2b trial. Trucchio maintains confidence in GH001’s continued development pathway and expects upcoming Phase 2b data to offer further insights into the advantages of GH Research’s approach, reinforcing his Buy rating and $40 price target on the stock.
GHRS’s price has also changed dramatically for the past six months – from $13.100 to $5.630, which is a -57.02% drop .
See Insiders’ Hot Stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
GH Research (GHRS) Company Description:
GH Research PLC is a clinical-stage biopharmaceutical company dedicated to transforming the treatment of psychiatric and neurological disorders.
Read More on GHRS:
