GH Research (NASDAQ:GHRS) Shares Up 8.2% – Should You Buy?
by Teresa Graham · The Cerbat GemShares of GH Research PLC (NASDAQ:GHRS – Get Free Report) traded up 8.2% on Tuesday . The company traded as high as $24.19 and last traded at $23.9080. 162,904 shares were traded during mid-day trading, a decline of 48% from the average session volume of 312,320 shares. The stock had previously closed at $22.09.
Wall Street Analysts Forecast Growth
GHRS has been the topic of a number of recent research reports. Citizens Jmp decreased their price target on shares of GH Research from $42.00 to $39.00 and set a “market outperform” rating on the stock in a research note on Friday, May 15th. Citigroup restated an “outperform” rating on shares of GH Research in a report on Friday, May 15th. Needham & Company LLC upped their target price on shares of GH Research from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GH Research in a report on Tuesday, April 21st. Finally, Guggenheim set a $34.00 price target on GH Research and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, GH Research presently has a consensus rating of “Moderate Buy” and an average price target of $40.38.
Read Our Latest Stock Analysis on GHRS
GH Research Stock Up 0.2%
The firm has a market capitalization of $1.69 billion, a PE ratio of -27.27 and a beta of 1.31. The company’s 50-day simple moving average is $21.32 and its 200 day simple moving average is $17.14.
GH Research (NASDAQ:GHRS – Get Free Report) last released its earnings results on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.04). On average, sell-side analysts forecast that GH Research PLC will post -1.46 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of GH Research by 43.1% during the 1st quarter. Royal Bank of Canada now owns 2,590 shares of the company’s stock worth $36,000 after acquiring an additional 780 shares in the last quarter. Barclays PLC increased its stake in shares of GH Research by 63.4% in the 4th quarter. Barclays PLC now owns 2,118 shares of the company’s stock valued at $27,000 after purchasing an additional 822 shares in the last quarter. North Star Investment Management Corp. acquired a new position in GH Research in the 1st quarter worth about $31,000. Osaic Holdings Inc. raised its holdings in GH Research by 63.6% in the 2nd quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock worth $75,000 after purchasing an additional 2,400 shares during the period. Finally, Jefferies Financial Group Inc. boosted its position in GH Research by 0.4% during the fourth quarter. Jefferies Financial Group Inc. now owns 712,300 shares of the company’s stock worth $9,046,000 after purchasing an additional 2,988 shares in the last quarter. Hedge funds and other institutional investors own 56.90% of the company’s stock.
GH Research Company Profile
GH Research Holdings Inc is a clinical-stage biotechnology company dedicated to the development of novel treatments for neuropsychiatric disorders through the application of psychedelic-inspired compounds. Headquartered in Dublin, Ireland, the company focuses on harnessing the unique pharmacology of 5-methoxy-N-dimethyltryptamine (5-MeO-DMT) and related molecules to address high unmet medical needs in mental health.
The firm’s lead program, GH001, is an inhaled formulation of 5-MeO-DMT that has completed early-stage clinical trials assessing safety, tolerability and preliminary efficacy in treatment-resistant depression.