Bond.az - Canaccord Genuity reiterated a Buy rating and $39.00 price target on GH Research PLC (NASDAQ:GHRS) after the company reported Q1 fiscal 2026 results.
GH Research posted operating expenses of $18.7 million, in line with Canaccord's estimate. The stock surged 108% over the past year to $22.21. The company selected doses for a global Phase 3 pivotal program for its lead candidate GH001.
GH001 is an inhaled formulation of mebufotenin (5-MeO-DMT) for treatment-resistant depression. The company plans to seek FDA alignment on Phase 3 trial design and start the program in late 2026.
Canaccord views GH Research as well-capitalized following a recent capital raise. The company's current ratio stands at 34.13, reflecting strong liquidity.
