5 Most Promising Psychedelic Stocks According To Analysts

3. GH Research PLC (NASDAQ:GHRS)

Number of Hedge Fund Holders: 13

Estimated 1-year Target Price: $39.20

GH Research PLC (NASDAQ:GHRS) was incorporated in 2018 and is based in Dublin, Ireland. It is a clinical-stage biopharmaceutical company that focuses on developing therapies for the treatment of psychiatric and neurological disorders. It is one of the most promising psychedelic stocks according to analysts. 

On December 15, EF Hutton analyst Elemer Piros initiated coverage of GH Research PLC (NASDAQ:GHRS) with a Buy rating and a $33 price target. GH Research PLC (NASDAQ:GHRS) is focused on creating a potent psychoactive substance called 5-MeO-DMT, which has been recently rediscovered and could be used to treat mental health conditions that are difficult to address. According to the analyst’s research note, GH Research PLC (NASDAQ:GHRS) has a strong financial position with over $250 million in cash, making it one of the most well-funded companies in the psychedelic industry.

According to Insider Monkey’s fourth quarter database, 13 hedge funds were long GH Research PLC (NASDAQ:GHRS), compared to 14 funds in the prior quarter.

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