GH Research PLC (NASDAQ:GHRS) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of GH Research PLC (NASDAQ:GHRS) have received an average rating of “Moderate Buy” from the twelve ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $45.00.

GHRS has been the topic of several recent analyst reports. Needham & Company LLC increased their target price on GH Research from $32.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Cantor Fitzgerald upped 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, August 7th. Wells Fargo & Company assumed coverage on shares of GH Research in a research note on Monday, July 27th. They set an “overweight” rating and a $44.00 price target on the stock. Zacks Research raised shares of GH Research from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of GH Research in a research report on Thursday, October 15th.

GH Research Price Performance

Shares of GH Research stock opened at $20.28 on Wednesday. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -20.28 and a beta of 1.31. The firm’s 50-day moving average is $23.74 and its 200 day moving average is $21.54. GH Research has a 1 year low of $12.04 and a 1 year high of $31.44.

GH Research (NASDAQ:GHRS) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.06. On average, equities analysts expect that GH Research will post -1.20 EPS for the current fiscal year.

Hedge Funds Weigh In On GH Research

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in GH Research in the third quarter worth about $82,000. China Universal Asset Management Co. Ltd. raised its stake in shares of GH Research by 30.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 17,525 shares of the company’s stock worth $432,000 after buying an additional 4,106 shares during the period. Farther Finance Advisors LLC raised its stake in shares of GH Research by 9,720.0% in the third quarter. Farther Finance Advisors LLC now owns 9,820 shares of the company’s stock worth $231,000 after buying an additional 9,720 shares during the period. Squarepoint Ops LLC bought a new position in shares of GH Research in the second quarter worth about $495,000. Finally, Braidwell LP purchased a new position in shares of GH Research during the 2nd quarter valued at about $5,571,000. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

About GH Research

GH Research plc is a clinical-stage biopharmaceutical company focused on developing novel therapies for psychiatric and neurological disorders. The company is headquartered in Dublin, Ireland, and conducts research and clinical development activities through its proprietary pipeline of psychedelic-based medicines.

Its lead program, GH001, is an investigational inhaled formulation of mebufotenin, also known as 5-MeO-DMT. GH Research has studied GH001 in patients with treatment-resistant depression, with the aim of developing a rapidly acting treatment that may provide meaningful improvements following a short course of administration.