GH Research (NASDAQ:GHRS) Hits New 52-Week High – Should You Buy?

Shares of GH Research PLC (NASDAQ:GHRS) hit a new 52-week high on Monday . The stock traded as high as $21.01 and last traded at $24.0760, with a volume of 47936 shares traded. The stock had previously closed at $18.34.

Analysts Set New Price Targets

Several research analysts recently commented on the company. TD Cowen reissued a “buy” rating on shares of GH Research in a research note on Monday, January 5th. Citizens Jmp increased their price objective on GH Research from $39.00 to $42.00 and gave the company a “market outperform” rating in a research note on Friday, March 6th. Guggenheim set a $34.00 price objective on GH Research and gave the company a “buy” rating in a research note on Tuesday, March 10th. Needham & Company LLC increased their price objective on GH Research from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of GH Research in a research note on Thursday, January 22nd. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.13.

GH Research Stock Performance

The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -25.81 and a beta of 1.00. The business has a 50 day simple moving average of $15.45 and a 200-day simple moving average of $14.71.

GH Research (NASDAQ:GHRS) last released its quarterly earnings results on Friday, March 6th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.06. Equities analysts predict that GH Research PLC will post -1.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GH Research

A number of hedge funds have recently modified their holdings of the business. Avoro Capital Advisors LLC purchased a new position in shares of GH Research during the 4th quarter worth $22,860,000. XTX Topco Ltd purchased a new position in shares of GH Research during the 4th quarter worth $564,000. Virtus Investment Advisers LLC grew its holdings in shares of GH Research by 130.1% during the 4th quarter. Virtus Investment Advisers LLC now owns 20,408 shares of the company’s stock worth $259,000 after purchasing an additional 11,539 shares during the period. Squadron Capital Management LLC purchased a new position in shares of GH Research during the 4th quarter worth $4,000,000. Finally, RTW Investments LP grew its holdings in shares of GH Research by 6.5% during the 4th quarter. RTW Investments LP now owns 5,933,815 shares of the company’s stock worth $75,359,000 after purchasing an additional 364,251 shares during the period. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

About GH Research

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.