GH Research (NASDAQ:GHRS) Reaches New 12-Month High Following Earnings Beat

GH Research PLC (NASDAQ:GHRS) reached a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $31.41 and last traded at $30.99, with a volume of 22610 shares traded. The stock had previously closed at $30.64.

The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.06.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GHRS shares. Wells Fargo & Company assumed coverage on shares of GH Research in a report on Monday, July 27th. They set an “overweight” rating and a $44.00 price objective for the company. Cantor Fitzgerald increased their target price on shares of GH Research from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of GH Research in a research report on Friday, July 17th. Citigroup reissued an “outperform” rating on shares of GH Research in a report on Friday, May 15th. Finally, Guggenheim restated a “buy” rating and issued a $40.00 price objective on shares of GH Research in a research report on Friday. Ten investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.78.

Institutional Investors Weigh In On GH Research

Several large investors have recently made changes to their positions in the stock. Barclays PLC lifted its position in 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 in the last quarter. North Star Investment Management Corp. acquired a new position in GH Research in the 1st quarter worth $31,000. Royal Bank of Canada increased its holdings in GH Research by 43.1% during the 1st quarter. Royal Bank of Canada now owns 2,590 shares of the company’s stock worth $36,000 after purchasing an additional 780 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in GH Research during the 4th quarter worth about $38,000. Finally, Osaic Holdings Inc. raised its stake in shares of GH Research by 63.6% in the 2nd quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock valued at $75,000 after purchasing an additional 2,400 shares during the period. Institutional investors own 56.90% of the company’s stock.

GH Research Trading Up 0.1%

The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -33.42 and a beta of 1.29. The company has a 50 day simple moving average of $25.57 and a 200-day simple moving average of $20.09.

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.