GH Research PLC (NASDAQ:GHRS) Stock Has Consensus Price Target of $45.00 According to Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on GH Research, with 10 buy, 1 hold, and 1 sell rating among 12 brokerages. The average 12-month price target is $45.00, well above the reported share price of $20.02.
• Recent analyst actions were mixed: Wells Fargo initiated coverage with an overweight rating and a $44 target, while New Street Research set a $65 target. Cantor Fitzgerald raised its target to $40, whereas Wall Street Zen downgraded the stock to sell and Zacks moved it to hold.
• GH Research reported quarterly adjusted losses of $0.23 per share, beating the consensus estimate of a $0.29 loss. Institutional investors own 56.9% of the company, which is developing psychedelic-based treatments including 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 presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $45.00.

Several brokerages have recently commented on GHRS. Wells Fargo & Company began coverage on GH Research in a research report on Monday, July 27th. They issued an "overweight" rating and a $44.00 target price for the company. Wall Street Zen lowered GH Research from a "hold" rating to a "sell" rating in a research report on Saturday. New Street Research set a $65.00 price target on GH Research in a research report on Monday, August 10th. Cantor Fitzgerald increased their price objective on GH Research from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Finally, Zacks Research upgraded GH Research from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 13th.

Institutional Trading of GH Research

A number of hedge funds have recently made changes to their positions in the stock. North Star Investment Management Corp. acquired a new stake in shares of GH Research during the first quarter worth approximately $31,000. Royal Bank of Canada grew its position in GH Research by 43.1% during the first quarter. Royal Bank of Canada now owns 2,590 shares of the company's stock valued at $36,000 after purchasing an additional 780 shares in the last quarter. Farther Finance Advisors LLC increased its stake in GH Research by 9,720.0% in the 3rd 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. Squarepoint Ops LLC acquired a new position in GH Research in the 2nd quarter valued at approximately $495,000. Finally, Renaissance Technologies LLC acquired a new position in GH Research in the 1st quarter valued at approximately $290,000. 56.90% of the stock is owned by hedge funds and other institutional investors.

GH Research Stock Performance

Shares of NASDAQ:GHRS opened at $20.02 on Wednesday. The firm has a 50 day simple moving average of $24.56 and a 200 day simple moving average of $21.41. GH Research has a 52 week low of $12.04 and a 52 week high of $31.44. The company has a market cap of $1.37 billion, a PE ratio of -20.02 and a beta of 1.32.

GH Research (NASDAQ:GHRS - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.06. On average, equities analysts predict that GH Research will post -1.20 earnings per share for the current year.

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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