GH Research (NASDAQ:GHRS) Trading 5.9% Higher – Here’s What Happened

GH Research PLC (NASDAQ:GHRS) shares shot up 5.9% on Tuesday . The company traded as high as $9.67 and last traded at $9.75. 204,153 shares were traded during trading, an increase of 30% from the average session volume of 156,669 shares. The stock had previously closed at $9.21.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GHRS. Stifel Nicolaus lifted their target price on shares of GH Research from $18.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Canaccord Genuity Group cut their target price on shares of GH Research from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of GH Research in a research note on Monday, January 27th. Finally, Cantor Fitzgerald began coverage on shares of GH Research in a research note on Thursday, February 13th. They set an “overweight” rating and a $14.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, GH Research has a consensus rating of “Buy” and an average target price of $30.60.

GH Research Stock Performance

The company has a market capitalization of $488.54 million, a PE ratio of -11.89 and a beta of 0.93. The business’s 50-day moving average is $10.55 and its 200-day moving average is $9.19.

GH Research (NASDAQ:GHRS) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. Analysts expect that GH Research PLC will post -0.8 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GHRS. RA Capital Management L.P. lifted its position in GH Research by 1.3% during the 3rd quarter. RA Capital Management L.P. now owns 6,686,689 shares of the company’s stock valued at $44,734,000 after acquiring an additional 85,000 shares during the period. Geode Capital Management LLC raised its holdings in GH Research by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 72,513 shares of the company’s stock worth $508,000 after buying an additional 3,092 shares during the last quarter. Diadema Partners LP purchased a new position in GH Research in the fourth quarter worth about $711,000. Lynx1 Capital Management LP raised its holdings in GH Research by 15.8% in the fourth quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company’s stock worth $34,013,000 after buying an additional 663,100 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in GH Research by 26.8% in the fourth quarter. Northern Trust Corp now owns 40,834 shares of the company’s stock worth $286,000 after buying an additional 8,641 shares during the last quarter. 56.90% of the stock is owned by hedge funds and other institutional investors.

GH Research Company Profile

GH Research PLC, together with its subsidiary GH Research Ireland Limited, engages in developing various therapies to treat psychiatric and neurological disorders. It is involved in the development of 5-Methoxy-N,N-Dimethyltryptamine (5-MeO-DMT) therapies for the treatment of patients with treatment-resistant depression (TRD).