GH Research PLC (NASDAQ:GHRS) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• GH Research has a “Moderate Buy” consensus rating: Ten of 12 analysts recommend buying the stock, while one rates it a hold and one a sell. The average 12-month price target is $45, significantly above the reported $22.94 share price.
• Several analysts recently raised their price targets, including New Street Research at $65, Cantor Fitzgerald at $40, Needham at $39, and Guggenheim at $40.
• Institutional investors own approximately 56.9% of GH Research. The company also reported a quarterly loss of $0.23 per share, beating the consensus estimate of a $0.29 loss.

Shares of GH Research PLC (NASDAQ:GHRS - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twelve ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $45.00.

GHRS has been the subject of a number of recent analyst reports. New Street Research set a $65.00 price objective on GH Research in a report on Monday, August 10th. Cantor Fitzgerald lifted their target price on GH Research from $35.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Needham & Company LLC increased their price target on GH Research from $32.00 to $39.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. HC Wainwright reissued a "buy" rating on shares of GH Research in a research note on Monday, August 10th. Finally, Guggenheim raised their price target on GH Research from $34.00 to $40.00 and gave the company a "buy" rating in a report on Friday, August 7th.

Institutional Trading of GH Research

A number of hedge funds and other institutional investors have recently made changes to their positions in GHRS. North Star Investment Management Corp. bought a new position in shares of GH Research in the first quarter valued at approximately $31,000. Royal Bank of Canada raised its holdings in GH Research by 43.1% during the first quarter. Royal Bank of Canada now owns 2,590 shares of the company's stock worth $36,000 after purchasing an additional 780 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in GH Research in the first quarter worth approximately $290,000. Squarepoint Ops LLC acquired a new stake in GH Research in the second quarter worth approximately $495,000. Finally, BIT Capital GmbH acquired a new stake in GH Research in the fourth quarter worth approximately $635,000. 56.90% of the stock is currently owned by institutional investors.

GH Research Trading Up 0.3%

Shares of NASDAQ GHRS opened at $22.94 on Friday. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -22.94 and a beta of 1.32. The stock's 50 day simple moving average is $27.75 and its 200 day simple moving average is $23.48. GH Research has a 12-month low of $12.04 and a 12-month high of $31.44.

GH Research (NASDAQ:GHRS - Get Free Report) last posted its 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. As a group, equities analysts forecast that GH Research will post -1.2 earnings per share for the current fiscal year.

GH Research Company Profile

GH Research plc is a clinical-stage biopharmaceutical company focused on developing novel treatments for psychiatric and neurological disorders. The company's research centers on mebufotenin, also known as 5-MeO-DMT, a psychedelic compound being evaluated through proprietary formulations and delivery methods designed to produce rapid-acting therapeutic effects.

GH Research's lead investigational program, GH001, is an inhaled formulation of mebufotenin being studied for major depressive disorder, including treatment-resistant depression.

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