GH Research (NASDAQ:GHRS) Posts Earnings Results, Beats Estimates By $0.06 EPS

GH Research (NASDAQ:GHRS) announced its quarterly earnings results on Thursday. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.06, Zacks reports.

GH Research Stock Down 1.2%

Shares of GH Research stock traded down $0.37 on Friday, hitting $30.27. The company’s stock had a trading volume of 337,156 shares, compared to its average volume of 318,768. GH Research has a 52-week low of $11.32 and a 52-week high of $31.44. The firm has a fifty day moving average price of $25.70 and a 200-day moving average price of $20.16. The company has a market capitalization of $2.08 billion, a P/E ratio of -30.27 and a beta of 1.29.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GHRS shares. Guggenheim upped their target price on shares of GH Research from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday. Cantor Fitzgerald lifted their price target on shares of GH Research from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday. Wells Fargo & Company started coverage on GH Research in a research note on Monday, July 27th. They set an “overweight” rating and a $44.00 price target on the stock. Wall Street Zen upgraded GH Research from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Zacks Research cut GH Research from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, GH Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.78.

Hedge Funds Weigh In On GH Research

Hedge funds have recently added to or reduced their stakes in the business. Lynx1 Capital Management LP lifted its holdings in shares of GH Research by 27.5% in the third quarter. Lynx1 Capital Management LP now owns 8,601,189 shares of the company’s stock valued at $122,997,000 after purchasing an additional 1,854,238 shares in the last quarter. RTW Investments LP increased its stake in shares of GH Research by 6.5% during the 4th quarter. RTW Investments LP now owns 5,933,815 shares of the company’s stock worth $75,359,000 after purchasing an additional 364,251 shares in the last quarter. Millennium Management LLC increased its stake in shares of GH Research by 324.1% during the 3rd quarter. Millennium Management LLC now owns 863,602 shares of the company’s stock worth $12,350,000 after purchasing an additional 659,957 shares in the last quarter. Verition Fund Management LLC increased its stake in shares of GH Research by 3.2% during the 3rd quarter. Verition Fund Management LLC now owns 678,489 shares of the company’s stock worth $9,702,000 after purchasing an additional 21,108 shares in the last quarter. Finally, UBS Group AG raised its position in shares of GH Research by 11.5% during the 3rd quarter. UBS Group AG now owns 511,464 shares of the company’s stock worth $7,314,000 after purchasing an additional 52,882 shares during the last quarter. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

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.