GH Research (NASDAQ:GHRS) Hits New 12-Month High - Should You Buy?

Key Points

• GH Research shares hit a new 52-week high, touching $31 intraday and finishing near $29.70, up about 8.5% on the day. The move came on moderate volume of 40,483 shares.
• Wall Street sentiment is mixed but mostly positive: nine analysts rate the stock a Buy, with a consensus rating of “Moderate Buy” and an average price target of $40.38. Recent target changes ranged from HC Wainwright lowering its target to $65 to Cantor Fitzgerald raising its target to $35.
• The company remains unprofitable and is focused on clinical-stage biotech development, with a reported quarterly EPS loss of $0.31 versus expectations of a $0.27 loss. GH Research is developing psychedelic-inspired treatments, led by GH001 for treatment-resistant depression.

GH Research PLC (NASDAQ:GHRS - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $31.00 and last traded at $29.7030, with a volume of 40483 shares trading hands. The stock had previously closed at $26.92.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. HC Wainwright reduced their price target on shares of GH Research from $70.00 to $65.00 and set a "buy" rating on the stock in a research note on Tuesday, May 19th. Citigroup reissued an "outperform" rating on shares of GH Research in a research report on Friday, May 15th. Weiss Ratings restated a "sell (d-)" rating on shares of GH Research in a research note on Tuesday, April 21st. Cantor Fitzgerald raised their target price on shares of GH Research from $25.00 to $35.00 and gave the stock an "overweight" rating in a research report on Friday, May 15th. Finally, Citizens Jmp decreased their price target on shares of GH Research from $42.00 to $39.00 and set a "market outperform" rating for the company in a research note on Friday, May 15th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.38.

GH Research Stock Up 8.5%

The stock has a market cap of $2.00 billion, a PE ratio of -31.61 and a beta of 1.28. The firm has a 50 day moving average price of $23.50 and a 200 day moving average price of $18.56.

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

Institutional Investors Weigh In On GH Research

Several hedge funds have recently modified their holdings of GHRS. Barclays PLC increased its holdings in GH Research by 63.4% during the fourth quarter. Barclays PLC now owns 2,118 shares of the company's stock valued at $27,000 after buying an additional 822 shares during the period. North Star Investment Management Corp. purchased a new stake in GH Research during the first quarter worth $31,000. Royal Bank of Canada boosted its position in GH Research by 43.1% during the 1st quarter. Royal Bank of Canada now owns 2,590 shares of the company's stock valued at $36,000 after acquiring an additional 780 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in GH Research during the 4th quarter valued at $38,000. Finally, Osaic Holdings Inc. increased its holdings in shares of GH Research by 63.6% in the 2nd quarter. Osaic Holdings Inc. now owns 6,175 shares of the company's stock valued at $75,000 after acquiring an additional 2,400 shares during the period. Hedge funds and other institutional investors own 56.90% of the company's stock.

GH Research Company Profile

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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