Analyst Patrick Trucchio of H.C. Wainwright reiterated a Buy rating on GH Research (GHRS – Research Report), retaining the price target of $40.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors surrounding GH Research’s promising results from their Phase 2b trial of GH001, an innovative inhalable psychedelic treatment for treatment-resistant depression (TRD). The trial showcased significant improvements in depression symptoms, with a notable reduction in Montgomery-Åsberg Depression Rating Scale scores and a high percentage of patients achieving remission. Importantly, the treatment was well-tolerated with no serious adverse events reported, and it does not require accompanying psychotherapy, setting it apart in the psychedelics market.
Additionally, the data supports advancing GH001 to Phase 3 trials, enhancing its potential as a breakthrough treatment. Trucchio’s valuation of the stock incorporates a strong potential market presence, with GH001 possibly generating substantial annual revenues if approved. Despite the risks inherent in clinical development and market competition, the positive trial outcomes and strategic positioning of GH Research underpin the Buy rating and the $40 price target.
