Street Calls of the Week
Investing.com - Cantor Fitzgerald has reiterated an Overweight rating and $25.00 price target on GH Research PLC (NASDAQ:GHRS), aligning with the broader analyst consensus. According to InvestingPro data, analyst targets range from $25 to $40, suggesting significant upside potential for the $832 million market cap company.
The firm noted that psychiatry is positioned to deliver transformational value for millions of people struggling with mental health conditions in the U.S. and globally.
Cantor Fitzgerald observed that Spravato is preparing the market for interventional psychiatry, with approximately 3,000 new Spravato clinics established in the past six months, bringing the total to about 6,000 clinics.
These clinics are gaining understanding of the buy and bill system needed for the next wave of interventional therapies and helping establish CPT codes for healthcare practitioner time reimbursement.
The firm also highlighted that hospitals, not just specialized clinics, are showing interest in psychedelics, with many exploring the conversion of electroconvulsive therapy rooms into psychedelic delivery suites as ECT falls out of favor.
In other recent news, GH Research PLC has been actively engaging with the U.S. Food and Drug Administration (FDA) regarding its Investigational New Drug Application for GH001. The company has reported progress in these discussions, with only one remaining issue related to respiratory tract histology findings in rats. GH Research believes this issue is specific to rats, based on scientific evidence. All other concerns related to the clinical hold have been resolved. The company submitted its complete response to the FDA in June, addressing the agency’s requests with data and toxicology studies. Analysts have reacted to these developments, with Stifel reiterating a Buy rating and a $32 price target, and JMP Securities maintaining a Market Outperform rating with a $39 target. Canaccord Genuity also reiterated a Buy rating, setting a $35 price target. These ratings reflect confidence in the company’s progress with the FDA and the strength of its clinical data.
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