GH Research (NASDAQ:GHRS) Shares Gap Up After Analyst Upgrade

GH Research PLC (NASDAQ:GHRS) gapped up before the market opened on Monday after Cantor Fitzgerald raised their price target on the stock from $25.00 to $35.00. The stock had previously closed at $21.39, but opened at $23.14. Cantor Fitzgerald currently has an overweight rating on the stock. GH Research shares last traded at $22.0790, with a volume of 83,917 shares changing hands.

Other analysts have also issued research reports about the stock. HC Wainwright raised their price target on shares of GH Research from $35.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of GH Research in a research report on Tuesday, April 21st. Guggenheim set a $34.00 target price on GH Research and gave the company a “buy” rating in a research note on Tuesday, March 10th. Royal Bank Of Canada lifted their target price on shares of GH Research from $33.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Finally, Needham & Company LLC increased their target price on GH Research from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Institutional Investors Weigh In On GH Research

Several institutional investors and hedge funds have recently added to or reduced their stakes in GHRS. Barclays PLC lifted its holdings in shares of GH Research by 63.4% in the 4th quarter. Barclays PLC now owns 2,118 shares of the company’s stock valued at $27,000 after acquiring an additional 822 shares during the last quarter. North Star Investment Management Corp. purchased a new stake in shares of GH Research during the first quarter worth $31,000. Osaic Holdings Inc. lifted its position in 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 during the last quarter. Jefferies Financial Group Inc. lifted its holdings in shares of 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 buying an additional 2,988 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of GH Research during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 56.90% of the company’s stock.

GH Research Stock Performance

The company has a market capitalization of $1.36 billion, a PE ratio of -23.82 and a beta of 1.27. The business has a fifty day moving average price of $17.14 and a 200 day moving average price of $15.54.

GH Research (NASDAQ:GHRS) last issued its earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.04). Research analysts forecast that GH Research PLC will post -1.52 earnings per share for the current fiscal year.

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.