GH Research slips after brokerage cuts PT on possible delay in Europe drug launch

GH Research

13/04/2022 16:43

** Shares of biopharma co GH Research Plc  GHRS.O  lose 2.2%
to trade at $18.99
    ** If losses hold, stock will snap its three-day winning
streak
    ** Canaccord Genuity cuts target price to $41 from $45, with
new PT still representing a 111% upside to last close
    ** Brokerage cites possible delay in launch of co's
psychedelic drug for treatment of depression, as the reason
behind the PT cut
    ** Expects GHRS to submit trial applications to European
regulators in third quarter of this year, and to launch the drug
in 2027 vs previous estimate of 2026
    ** Co has lost nearly a fifth of its market cap so far this
year

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))