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

Key Points

• GH Research has a “Moderate Buy” consensus rating: Ten of 12 covering brokerages recommend buying the stock, while one rates it a hold and one a sell. The average 12-month price target is $45.00, above its recent price of $28.23.
• GHRS reported a quarterly loss of $0.23 per share, beating analysts’ expected loss of $0.29. Analysts project a full-year loss of approximately $1.20 per share.
• Institutional investors own 56.9% of GH Research, with several firms recently increasing their holdings or initiating positions. The clinical-stage biotechnology company is developing psychedelic-inspired treatments for neuropsychiatric disorders, including its lead program GH001 for treatment-resistant depression.

Shares of GH Research PLC (NASDAQ:GHRS - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twelve brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $45.00.

Several research analysts have recently commented on GHRS shares. Citigroup reissued an "outperform" rating on shares of GH Research in a research note on Friday, May 15th. Wall Street Zen raised shares of GH Research from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Citizens Jmp reduced their target price on shares of GH Research from $42.00 to $39.00 and set a "market outperform" rating on the stock in a report on Friday, May 15th. Cantor Fitzgerald raised 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. Finally, Zacks Research upgraded shares of GH Research from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 13th.

GH Research Stock Performance

NASDAQ GHRS opened at $28.23 on Tuesday. The stock has a fifty day simple moving average of $28.14 and a 200-day simple moving average of $22.11. The stock has a market cap of $1.94 billion, a PE ratio of -28.23 and a beta of 1.27. GH Research has a twelve month low of $11.83 and a twelve month high of $31.44.

GH Research (NASDAQ:GHRS - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.06. Research analysts predict that GH Research will post -1.2 EPS for the current year.

Hedge Funds Weigh In On GH Research

A number of institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC grew its holdings in shares of GH Research by 63.4% during the fourth quarter. Barclays PLC now owns 2,118 shares of the company's stock worth $27,000 after purchasing an additional 822 shares during the last quarter. North Star Investment Management Corp. purchased a new position in GH Research during the 1st quarter worth approximately $31,000. 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 worth $36,000 after buying an additional 780 shares during the last quarter. Osaic Holdings Inc. increased 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 worth $75,000 after buying an additional 2,400 shares during the period. Finally, JPMorgan Chase & Co. acquired a new stake in shares of GH Research in the second quarter valued at approximately $79,000. 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.

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