GH Research (NASDAQ:GHRS) Trading 8.2% Higher – Should You Buy?

GH Research PLC (NASDAQ:GHRS)’s stock price rose 8.2% on Tuesday . The stock traded as high as $24.19 and last traded at $23.9080. 162,904 shares traded hands during trading, a decline of 48% from the average session volume of 312,320 shares. The stock had previously closed at $22.09.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Guggenheim set a $34.00 price target on shares of GH Research and gave the company a “buy” rating in a report on Tuesday, March 10th. HC Wainwright cut their price objective on shares of GH Research from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Citigroup reissued an “outperform” rating on shares of GH Research in a research report on Friday, May 15th. Needham & Company LLC boosted their price target 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, Cantor Fitzgerald raised their price objective on GH Research from $25.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Nine equities research 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.38.

GH Research Stock Up 9.0%

The stock’s fifty day moving average price is $20.99 and its 200-day moving average price is $17.01. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -26.12 and a beta of 1.31.

GH Research (NASDAQ:GHRS) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.04). Analysts anticipate that GH Research PLC will post -1.46 EPS for the current year.

Institutional Investors Weigh In On GH Research

A number of institutional investors have recently modified their holdings of the business. Royal Bank of Canada raised its position in shares of GH Research by 43.1% in the first quarter. Royal Bank of Canada now owns 2,590 shares of the company’s stock valued at $36,000 after buying an additional 780 shares in the last quarter. Barclays PLC grew its position in GH Research by 63.4% during the fourth quarter. Barclays PLC now owns 2,118 shares of the company’s stock worth $27,000 after buying an additional 822 shares in the last quarter. North Star Investment Management Corp. acquired a new stake in GH Research during the first quarter worth approximately $31,000. Osaic Holdings Inc. increased its stake in GH Research by 63.6% during the 2nd quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock worth $75,000 after acquiring an additional 2,400 shares during the period. Finally, Jefferies Financial Group Inc. raised its holdings in GH Research by 0.4% in the 4th quarter. Jefferies Financial Group Inc. now owns 712,300 shares of the company’s stock valued at $9,046,000 after acquiring an additional 2,988 shares in the last quarter. 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.