GH Research initiated with a Buy at EF Hutton

EF Hutton analyst Elemer Piros initiated coverage of GH Research with a Buy rating and $33 price target. GH is developing a recently rediscovered powerful psychoactive substance, 5-MeO-DMT, for treatment-resistant mental health conditions, Piros tells investors in a research note. The analyst believes GH is one of the best capitalized companies in the psychedelic space with more than $250M in cash.