H.C. Wainwright analyst Patrick Trucchio reiterated a Buy rating on GH Research (GHRS – Research Report) today and set a price target of $40.00.
Patrick Trucchio has given his Buy rating due to a combination of factors including GH Research’s promising clinical data, expanding pipeline, and strong financial position, which collectively suggest significant potential for growth. The company is advancing its lead product, GH001, an inhaled formulation of 5-MeO-DMT, through critical stages of development. Key milestones anticipated in the near term include the completion of enrollment in the Phase 2b trial’s Open-Label Extension, a response to the FDA’s Investigational New Drug hold, and the initiation of a pivotal Phase 3 program for treatment-resistant depression.
GH001 has shown impressive efficacy and durability in clinical trials, with a notable percentage of patients achieving remission without serious adverse effects. The product’s potential applications in other conditions such as postpartum depression and bipolar II disorder further expand its market opportunity. Additionally, GH Research’s well-capitalized balance sheet supports ongoing progress, positioning the company for meaningful near-term upside. These factors underpin Trucchio’s confidence in the stock’s potential and his Buy rating.
In another report released on February 27, Canaccord Genuity also maintained a Buy rating on the stock with a $35.00 price target.