GH Research (NASDAQ:GHRS) Rating Lowered to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded GH Research from “Hold” to “Sell,” although the broader analyst consensus remains “Moderate Buy,” with 10 Buy, one Hold, and one Sell rating and an average price target of $45.
• GH Research shares opened at $18.07, well below their 52-week high of $31.44. The company reported a quarterly loss of $0.23 per share, beating estimates by $0.06, while analysts expect a full-year loss of $1.20 per share.
• Institutional investors and hedge funds own 56.9% of GH Research, with several firms recently increasing or initiating positions, including Troluce Capital Advisors, Braidwell, and Renaissance Technologies.

GH Research (NASDAQ:GHRS - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday, Wall Street Zen reports.

Several other analysts have also recently commented on the stock. Cantor Fitzgerald increased their price target on shares of GH Research from $35.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. New Street Research set a $65.00 price objective on GH Research in a research note on Monday, August 10th. Guggenheim upped their price target on shares of GH Research from $34.00 to $40.00 and gave the company a "buy" rating in a report on Friday, August 7th. HC Wainwright restated a "buy" rating on shares of GH Research in a research note on Monday, August 10th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of GH Research in a report on Thursday, October 15th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, GH Research has a consensus rating of "Moderate Buy" and an average target price of $45.00.

GH Research Stock Performance

Shares of GHRS opened at $18.07 on Friday. The firm has a market capitalization of $1.24 billion, a P/E ratio of -18.07 and a beta of 1.32. GH Research has a 52 week low of $12.04 and a 52 week high of $31.44. The company has a 50-day simple moving average of $24.94 and a 200-day simple moving average of $24.04.

GH Research (NASDAQ:GHRS - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.06. As a group, equities analysts forecast that GH Research will post -1.20 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Troluce Capital Advisors LLC raised its position in shares of GH Research by 165.4% during 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. Braidwell LP purchased a new position in shares of GH Research in the 2nd quarter worth about $5,571,000. Renaissance Technologies LLC bought a new position in GH Research during the first quarter valued at about $290,000. Squarepoint Ops LLC bought a new position in GH Research during the second quarter valued at about $495,000. Finally, Farther Finance Advisors LLC grew its position in GH Research by 9,720.0% during the third quarter. Farther Finance Advisors LLC now owns 9,820 shares of the company's stock valued at $231,000 after buying an additional 9,720 shares during the period. Institutional investors and hedge funds own 56.90% of the company's stock.

GH Research Company Profile

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.

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