Analyst Patrick Trucchio of H.C. Wainwright reiterated a Buy rating on GH Research, reducing the price target to $35.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors that highlight GH Research’s strategic advancements and financial stability. The company’s progress in regulatory engagement, particularly with the FDA, is noteworthy as they have resolved most issues, leaving only one toxicology topic under review. This indicates a strong potential for the initiation of pivotal trials for GH001 in treatment-resistant depression by 2026, demonstrating disciplined execution across clinical, regulatory, and operational areas.
Additionally, GH Research’s financial position is robust, with $293.9 million in cash, cash equivalents, and marketable securities, ensuring they are well-capitalized to support their trial plans. The company’s presentation of positive data from their Phase 2b and open-label extension studies, showing a high remission rate and a clean safety profile, further reinforces the durability and differentiation of their program. Despite competitive pressures in the psychedelics space, Trucchio maintains a positive outlook on GH001’s potential, leading to a revised price target of $35 and a reiterated Buy rating for GHRS.
According to TipRanks, Trucchio is a top 100 analyst with an average return of 34.8% and a 52.26% success rate. Trucchio covers the Healthcare sector, focusing on stocks such as Aligos Therapeutics, Precision BioSciences, and Altimmune.
In another report released on November 6, Canaccord Genuity also maintained a Buy rating on the stock with a $35.00 price target.