These are top 10 stocks traded on the Robinhood UK platform in July
Investing.com - JMP Securities has reiterated its Market Outperform rating and $39 price target on GH Research PLC (NASDAQ:GHRS), currently trading at $14.24, citing progress in FDA discussions and strong clinical data. The company, valued at $883 million, maintains strong analyst support with a consensus "Buy" rating and price targets ranging from $25 to $40.
The company announced Thursday that it has received feedback from the FDA regarding its submission to address a clinical hold for its GH001 drug candidate. According to the announcement, only one issue remains open with regulators - the relevance of respiratory tract histology findings in rats - while all other items for the hold have been resolved.
JMP analyst Jason Butler expressed confidence that the rat findings are species-specific and not relevant to human applications. The firm maintains its $39 risk-adjusted, DCF-derived price target, highlighting the "blockbuster potential" of GH001.
GH Research also disclosed final results from the open-label extension portion of its Phase 2b trial in treatment-resistant depression on Thursday. The company reported that remission rates were consistent with interim results previously announced in February.
The firm’s analysis focuses on GH Research’s ongoing FDA engagement, with JMP citing the strong Phase 2b and open-label extension data as key factors supporting its positive outlook on the stock.
In other recent news, GH Research PLC has been actively engaging with the U.S. Food and Drug Administration regarding a clinical hold on its Investigational New Drug Application for GH001. The company has submitted a complete response addressing the FDA’s requests, with a focus on resolving an issue related to respiratory tract histology findings in rats. GH Research believes these findings are specific to rats, based on scientific evidence. Canaccord Genuity analyst Sumant Kilkami reiterated a Buy rating for the company, maintaining a price target of $35.00. Meanwhile, Cantor Fitzgerald analysts have assumed coverage of GH Research with an Overweight rating and set a price target at $25.00, citing the potential impact of psychedelics on mental health disorders. The analysts emphasize the significant unmet need for effective treatments in areas such as depression, PTSD, and anxiety. GH Research’s ongoing dialogue with the FDA and analyst support highlight the company’s potential in the mental health sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.