Needham & Company LLC Reaffirms Buy Rating for GH Research (NASDAQ:GHRS)

GH Research (NASDAQ:GHRS)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued on Monday, Marketbeat.com reports. They currently have a $19.00 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 34.56% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of GH Research from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of GH Research in a research note on Wednesday, October 8th. Finally, HC Wainwright cut their price target on GH Research from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.11.

GH Research Stock Performance

Shares of GHRS opened at $14.12 on Monday. The business’s 50-day moving average is $13.75 and its two-hundred day moving average is $13.75. The company has a market capitalization of $734.66 million, a P/E ratio of -19.08 and a beta of 0.98. GH Research has a fifty-two week low of $7.98 and a fifty-two week high of $20.50.

GH Research (NASDAQ:GHRS) last issued its earnings results on Thursday, November 6th. The company reported ($0.23) EPS for the quarter, hitting analysts’ consensus estimates of ($0.23). Analysts forecast that GH Research will post -0.8 EPS for the current year.

Institutional Trading of GH Research

A number of hedge funds have recently bought and sold shares of GHRS. Lynx1 Capital Management LP lifted its stake in GH Research by 27.5% in the 3rd quarter. Lynx1 Capital Management LP now owns 8,601,189 shares of the company’s stock worth $122,997,000 after purchasing an additional 1,854,238 shares in the last quarter. Millennium Management LLC lifted its position in GH Research by 324.1% during the third quarter. Millennium Management LLC now owns 863,602 shares of the company’s stock worth $12,350,000 after buying an additional 659,957 shares in the last quarter. HighVista Strategies LLC boosted its stake in GH Research by 363.0% during the third quarter. HighVista Strategies LLC now owns 241,894 shares of the company’s stock worth $3,459,000 after buying an additional 189,647 shares during the last quarter. CenterBook Partners LP purchased a new stake in GH Research in the 3rd quarter valued at $2,376,000. Finally, Stempoint Capital LP acquired a new stake in shares of GH Research in the 2nd quarter worth $1,229,000. Institutional investors and hedge funds 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.