Needham & Company LLC Boosts GH Research (NASDAQ:GHRS) Price Target to $39.00

GH Research (NASDAQ:GHRS) had its target price raised by stock analysts at Needham & Company LLC from $32.00 to $39.00 in a note issued to investors on Thursday, MarketBeat.com reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 28.84% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company began coverage on GH Research in a report on Monday, July 27th. They issued an “overweight” rating and a $44.00 target price for the company. Zacks Research lowered GH Research from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GH Research in a research note on Friday, July 17th. Cantor Fitzgerald increased their price target on GH Research from $25.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Finally, HC Wainwright reduced their price target on GH Research from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.78.

GH Research Price Performance

GHRS stock opened at $30.27 on Thursday. GH Research has a 1 year low of $11.32 and a 1 year high of $31.44. The business’s 50-day moving average is $25.70 and its two-hundred day moving average is $20.16. The firm has a market capitalization of $2.08 billion, a P/E ratio of -30.27 and a beta of 1.29.

GH Research (NASDAQ:GHRS) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.06. On average, analysts expect that GH Research will post -1.46 EPS for the current year.

Institutional Trading of GH Research

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC raised its holdings in GH Research by 63.4% in the fourth quarter. Barclays PLC now owns 2,118 shares of the company’s stock valued at $27,000 after buying an additional 822 shares during the period. North Star Investment Management Corp. acquired a new stake in shares of GH Research in the first quarter worth $31,000. Royal Bank of Canada increased its position in shares of GH Research by 43.1% in the first quarter. Royal Bank of Canada now owns 2,590 shares of the company’s stock worth $36,000 after acquiring an additional 780 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of GH Research in the 4th quarter valued at $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 acquiring an additional 2,400 shares during the period. Institutional investors and hedge funds 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.