GH Research (NASDAQ:GHRS) Sees Strong Trading Volume – Still a Buy?

GH Research PLC (NASDAQ:GHRS) saw unusually-strong trading volume on Wednesday . 469,567 shares traded hands during trading, an increase of 52% from the previous session’s volume of 308,722 shares.The stock last traded at $30.38 and had previously closed at $29.08.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GHRS shares. Citizens Jmp dropped their price objective on shares of GH Research from $42.00 to $39.00 and set a “market outperform” rating for the company in a research note on Friday, May 15th. New Street Research set a $65.00 price target on shares of GH Research in a report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of GH Research in a research report on Friday, July 17th. Needham & Company LLC upped their price objective on GH Research from $32.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen raised GH Research from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Ten research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

GH Research Trading Down 6.8%

The business’s 50 day moving average is $26.09 and its 200 day moving average is $20.55. The stock has a market capitalization of $1.93 billion, a PE ratio of -28.19 and a beta of 1.29.

GH Research (NASDAQ:GHRS) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.06. As a group, analysts anticipate that GH Research PLC will post -1.2 EPS for the current year.

Institutional Investors Weigh In On GH Research

Several hedge funds and other institutional investors have recently modified their holdings of GHRS. Royal Bank of Canada lifted its stake in shares of GH Research by 43.1% during the 1st quarter. Royal Bank of Canada now owns 2,590 shares of the company’s stock worth $36,000 after acquiring an additional 780 shares during the last quarter. Troluce Capital Advisors LLC increased its stake in GH Research by 165.4% in the first quarter. Troluce Capital Advisors LLC now owns 990,472 shares of the company’s stock worth $13,926,000 after purchasing an additional 617,260 shares during the period. Renaissance Technologies LLC purchased a new stake in GH Research in the first quarter worth $290,000. North Star Investment Management Corp. bought a new stake in shares of GH Research during the first quarter worth $31,000. Finally, Avoro Capital Advisors LLC bought a new position in shares of GH Research in the fourth quarter worth about $22,860,000. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

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.