Sumant Kulkarni, an analyst from Canaccord Genuity, maintained the Buy rating on GH Research (GHRS – Research Report). The associated price target is $35.00.
Sumant Kulkarni has given his Buy rating due to a combination of factors, primarily centered around GH Research’s promising clinical data and future potential. The company recently shared positive results from the blinded portion of its Phase 2b trial for GH001, a treatment for treatment-resistant depression, which has bolstered confidence in its prospects. Kulkarni anticipates further updates, particularly from the open-label extension data and the resolution of the FDA hold, which could significantly enhance the company’s clinical capabilities in the US.
Additionally, the financial outlook for GH Research supports the Buy rating. The analyst maintains a 50% probability of approval for GH001, with a potential launch in the US and Europe by 2029, and forecasts peak sales reaching $3.1 billion by 2035. The company’s recent capital raise of approximately $150 million further strengthens its financial position, leading to a reaffirmed price target of $35. These elements collectively underpin Kulkarni’s optimistic outlook on GH Research’s stock.
GHRS’s price has also changed slightly for the past six months – from $11.320 to $10.650, which is a -5.92% drop .