GH Research (NASDAQ:GHRS) Hits New 52-Week High – Here’s What Happened

GH Research PLC (NASDAQ:GHRS) hit a new 52-week high on Thursday . The company traded as high as $31.00 and last traded at $29.7030, with a volume of 40483 shares traded. The stock had previously closed at $26.92.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GHRS. Weiss Ratings reiterated a “sell (d-)” rating on shares of GH Research in a research note on Tuesday, April 21st. Citizens Jmp decreased their price target on shares of GH Research from $42.00 to $39.00 and set a “market outperform” rating for the company in a research report on Friday, May 15th. Cantor Fitzgerald raised their price target on shares of GH Research from $25.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Citigroup reaffirmed an “outperform” rating on shares of GH Research in a research report on Friday, May 15th. Finally, HC Wainwright cut their price objective on shares of GH Research from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, GH Research has a consensus rating of “Moderate Buy” and an average price target of $40.38.

GH Research Stock Performance

The stock has a market cap of $2.00 billion, a PE ratio of -31.61 and a beta of 1.28. The firm has a fifty day moving average price of $23.50 and a 200 day moving average price of $18.56.

GH Research (NASDAQ:GHRS) last announced its earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.04). On average, equities research analysts forecast that GH Research PLC will post -1.46 earnings per share for the current year.

Institutional Investors Weigh In On GH Research

A number of large investors have recently modified their holdings of the business. Royal Bank of Canada increased its stake in GH Research by 43.1% during the 1st quarter. Royal Bank of Canada now owns 2,590 shares of the company’s stock valued at $36,000 after purchasing an additional 780 shares in the last quarter. Barclays PLC raised its holdings in shares of GH Research by 63.4% in the fourth quarter. Barclays PLC now owns 2,118 shares of the company’s stock worth $27,000 after buying an additional 822 shares during the last quarter. North Star Investment Management Corp. acquired a new stake in shares of GH Research during the first quarter worth $31,000. Osaic Holdings Inc. lifted its stake in shares of GH Research by 63.6% during the second quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock worth $75,000 after buying an additional 2,400 shares during the period. Finally, Jefferies Financial Group Inc. grew its holdings in shares of GH Research by 0.4% during the fourth 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 last quarter. Hedge funds and other institutional investors own 56.90% of the company’s stock.

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.