RBC Capital recently revised its price target for GH Research PLC (NASDAQ: GHRS) upward to $40 from $33, underlining robust potential against the current market price of $16.74. This projection follows extensive discussions during RBC’s Psychedelics Symposium as well as consultations with company leadership, healthcare payers, and medical professionals, which enhanced confidence in the long-term commercial prospects of GH Research's innovative depression treatment, GH001.
GH Research's shares have exhibited a notable appreciation of 90.66% over the past year, with a 31.81% gain so far this year, indicative of investor enthusiasm. The price target revision incorporates updated pricing expectations for GH001 aligned with the precedent set by Spravato, a comparable therapeutic agent.
The company anticipates holding an End-of-Phase 2 meeting later in the current year, with pivotal clinical trials for GH001 scheduled to initiate within the same timeframe. RBC Capital characterizes GH Research as a "high quality midstage story in the emerging psychedelics space," highlighting the promise embedded in its pipeline.
Further support for GH Research's outlook came with recent regulatory developments. The U.S. Food and Drug Administration (FDA) lifted a clinical hold on GH001 that had previously stalled U.S. clinical trials. This removal ensued after resolving concerns related to preclinical toxicology, thereby clearing the path for a global Phase III trial projected to begin in late 2026.
Market analysts have positively responded to these updates: Needham raised their price target to $29 and retained a Buy rating; Canaccord Genuity elevated its target to $39, referencing FDA progress as a pivotal factor; Citizens analyst Jason Butler sustained a Market Outperform stance with a $39 price target; and TD Cowen upheld a Buy rating after evaluating GH Research’s safety data from clinical and preclinical studies.
These acknowledgments underscore growing analyst confidence and could enhance investor interest in GH Research. The company’s trajectory in the psychedelics treatment field, along with its advancing clinical programs, positions it as a noteworthy contender in the specialty pharmaceuticals market.