GH Research (NASDAQ:GHRS) Downgraded to "Strong Sell" Rating by Zacks Research

Key Points

• Zacks Research downgraded GH Research from “hold” to “strong sell”, adding to a mixed but still generally positive analyst picture.
• Despite the downgrade, the stock’s broader Street consensus remains Moderate Buy, with nine Buy ratings, two Sell ratings, and an average price target of $40.38.
• GH Research recently reported a Q1 EPS loss of $0.31, missing estimates, while its shares were trading at $29.13 with a 52-week range of $11.32 to $31.00.

GH Research (NASDAQ:GHRS - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Wednesday,Zacks.com reports.

Several other research firms also recently issued reports on GHRS. Weiss Ratings reissued a "sell (d-)" rating on shares of GH Research in a research report on Tuesday, April 21st. Citizens Jmp lowered their price objective 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 objective on shares of GH Research from $25.00 to $35.00 and gave the company an "overweight" rating in a research note on Friday, May 15th. Citigroup reiterated an "outperform" rating on shares of GH Research in a report on Friday, May 15th. Finally, HC Wainwright decreased their target price on shares of GH Research from $70.00 to $65.00 and set a "buy" rating for the company in a research report on Tuesday, May 19th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.38.

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GH Research Stock Performance

Shares of NASDAQ:GHRS opened at $29.13 on Wednesday. The business's 50 day simple moving average is $23.66 and its two-hundred day simple moving average is $18.67. The firm has a market cap of $2.00 billion, a P/E ratio of -31.66 and a beta of 1.28. GH Research has a 52-week low of $11.32 and a 52-week high of $31.00.

GH Research (NASDAQ:GHRS - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.04). On average, equities analysts forecast that GH Research will post -1.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GH Research

Several institutional investors have recently modified their holdings of GHRS. Lynx1 Capital Management LP lifted its holdings in GH Research by 27.5% during the third quarter. Lynx1 Capital Management LP now owns 8,601,189 shares of the company's stock worth $122,997,000 after acquiring an additional 1,854,238 shares during the period. RTW Investments LP boosted its position in GH Research by 6.5% in the fourth quarter. RTW Investments LP now owns 5,933,815 shares of the company's stock worth $75,359,000 after purchasing an additional 364,251 shares during the last quarter. Avoro Capital Advisors LLC bought a new position in GH Research in the 4th quarter valued at $22,860,000. Troluce Capital Advisors LLC grew its stake in GH Research by 165.4% in the 1st quarter. Troluce Capital Advisors LLC now owns 990,472 shares of the company's stock valued at $13,926,000 after purchasing an additional 617,260 shares during the period. Finally, Millennium Management LLC increased its position in shares of GH Research by 324.1% during the 3rd quarter. Millennium Management LLC now owns 863,602 shares of the company's stock valued at $12,350,000 after purchasing an additional 659,957 shares during the last quarter. 56.90% of the stock is owned by 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.

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