GH Research PLC (NASDAQ:GHRS) Given Average Rating of “Moderate Buy” by Brokerages

GH Research PLC (NASDAQ:GHRS) has been given an average rating of “Moderate Buy” by the eleven research firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating and nine have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $40.3750.

A number of equities research analysts have recently commented on GHRS shares. Cantor Fitzgerald increased their price objective on GH Research from $25.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Citigroup restated an “outperform” rating on shares of GH Research in a report on Friday, May 15th. Citizens Jmp cut their target price on GH Research from $42.00 to $39.00 and set a “market outperform” rating on the stock in a research report on Friday, May 15th. Zacks Research lowered GH Research from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 15th. Finally, HC Wainwright decreased their price target on GH Research from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th.

GH Research Price Performance

GHRS stock opened at $28.71 on Monday. GH Research has a 12 month low of $11.32 and a 12 month high of $31.00. The firm has a market cap of $1.97 billion, a PE ratio of -31.21 and a beta of 1.28. The firm has a 50 day simple moving average of $23.81 and a 200 day simple moving average of $18.79.

GH Research (NASDAQ:GHRS) last issued its earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.04). As a group, sell-side analysts expect that GH Research will post -1.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada grew 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 acquiring an additional 780 shares in the last quarter. Barclays PLC lifted its position 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 purchasing an additional 822 shares in the last quarter. North Star Investment Management Corp. acquired a new stake in shares of GH Research during the first quarter worth approximately $31,000. Osaic Holdings Inc. grew its position in GH Research by 63.6% during the second 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 in the last quarter. Finally, Jefferies Financial Group Inc. increased its stake in GH Research by 0.4% in the 4th 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 period. 56.90% of the stock is currently owned by institutional investors and hedge funds.

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.