GH Research (NASDAQ:GHRS) Sees Strong Trading Volume – Still a Buy?

GH Research PLC (NASDAQ:GHRS) shares saw strong trading volume on Wednesday . 304,799 shares traded hands during mid-day trading, an increase of 92% from the previous session’s volume of 158,809 shares.The stock last traded at $9.85 and had previously closed at $9.39.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Canaccord Genuity Group reduced their target price on GH Research from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Stifel Nicolaus upped 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. Cantor Fitzgerald started coverage on shares of GH Research in a research note on Thursday, February 13th. They set an “overweight” rating and a $14.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $40.00 price objective on shares of GH Research in a research note on Monday, January 27th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, GH Research has a consensus rating of “Buy” and a consensus price target of $30.60.

GH Research Price Performance

The company’s 50 day moving average price is $10.60 and its 200 day moving average price is $9.18. The firm has a market capitalization of $534.85 million, a P/E ratio of -13.08 and a beta of 0.93.

GH Research (NASDAQ:GHRS) last released its earnings results on Thursday, February 27th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.06. On average, research analysts anticipate that GH Research PLC will post -0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On GH Research

Large investors have recently bought and sold shares of the business. RA Capital Management L.P. boosted its holdings in GH Research by 1.3% during the third quarter. RA Capital Management L.P. now owns 6,686,689 shares of the company’s stock worth $44,734,000 after buying an additional 85,000 shares during the last quarter. Millennium Management LLC bought a new position in GH Research during the 4th quarter worth approximately $145,000. Two Sigma Investments LP acquired a new position in GH Research during the fourth quarter valued at approximately $117,000. BNP Paribas Financial Markets bought a new stake in GH Research in the fourth quarter valued at approximately $44,000. 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 purchasing an additional 8,641 shares during the period. 56.90% of the stock is currently owned by institutional investors and hedge funds.

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).