GH Research (NASDAQ:GHRS) Sees Unusually-High Trading Volume – Still a Buy?

GH Research PLC (NASDAQ:GHRS) saw unusually-strong trading volume on Tuesday . Approximately 421,336 shares traded hands during mid-day trading, an increase of 39% from the previous session’s volume of 304,080 shares.The stock last traded at $29.0890 and had previously closed at $28.19.

Wall Street Analyst Weigh In

A number of analysts recently commented on GHRS shares. Zacks Research downgraded GH Research from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 15th. Cantor Fitzgerald upped their price objective on GH Research from $25.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GH Research in a research report on Friday, July 17th. Wells Fargo & Company initiated coverage on GH Research in a research note on Monday, July 27th. They set an “overweight” rating and a $44.00 target price on the stock. Finally, Citizens Jmp decreased their price objective on shares of GH Research from $42.00 to $39.00 and set a “market outperform” rating for the company in a report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, GH Research currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.78.

GH Research Stock Up 3.5%

The stock has a market cap of $2.00 billion, a P/E ratio of -31.78 and a beta of 1.29. The business’s 50-day simple moving average is $25.15 and its two-hundred day simple moving average is $19.82.

GH Research (NASDAQ:GHRS) last announced its quarterly 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). Analysts anticipate that GH Research PLC will post -1.46 earnings per share for the current fiscal year.

Institutional Trading of GH Research

Several large investors have recently added to or reduced their stakes in GHRS. Barclays PLC grew 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 worth $27,000 after buying an additional 822 shares during the last quarter. North Star Investment Management Corp. purchased a new stake in shares of GH Research during the 1st quarter worth approximately $31,000. Royal Bank of Canada boosted its stake in GH Research by 43.1% during the first quarter. Royal Bank of Canada now owns 2,590 shares of the company’s stock worth $36,000 after buying an additional 780 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of GH Research during the fourth quarter valued at $38,000. Finally, Osaic Holdings Inc. raised its holdings in shares of GH Research by 63.6% in the second quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock valued at $75,000 after acquiring an additional 2,400 shares in the last quarter. Institutional investors own 56.90% of the company’s stock.

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.