GH Research (NASDAQ:GHRS) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Key Points

• GH Research reported quarterly EPS of $(0.23), beating analysts’ consensus estimate of $(0.29) by $0.06.
• Shares fell $0.37 to $30.27, though the stock remains near its 12-month high of $31.44 and has risen above its 50- and 200-day moving averages.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $42.78; institutional investors and hedge funds own 56.9% of the stock.

GH Research (NASDAQ:GHRS - Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.06, Zacks reports.

GH Research Stock Performance

NASDAQ GHRS traded down $0.37 on Friday, reaching $30.27. The company's stock had a trading volume of 337,156 shares, compared to its average volume of 318,768. GH Research has a twelve month low of $11.32 and a twelve month high of $31.44. The stock has a market cap of $2.08 billion, a PE ratio of -30.27 and a beta of 1.29. The firm's 50 day moving average is $25.70 and its two-hundred day moving average is $20.16.

Analyst Ratings Changes

Several research analysts have recently issued reports on GHRS shares. Wall Street Zen raised GH Research from a "sell" rating to a "hold" rating in a research note on Saturday. HC Wainwright reduced their price objective on shares of GH Research from $70.00 to $65.00 and set a "buy" rating for the company in a report on Tuesday, May 19th. Citizens Jmp decreased their target price on shares of GH Research from $42.00 to $39.00 and set a "market outperform" rating for the company in a research report on Friday, May 15th. Cantor Fitzgerald raised their target price on shares of GH Research from $35.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Needham & Company LLC boosted their price target on shares of GH Research from $32.00 to $39.00 and gave the stock a "buy" rating in a research report on Thursday. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.78.

Hedge Funds Weigh In On GH Research

Hedge funds have recently modified their holdings of the stock. Barclays PLC raised its holdings in shares of GH Research by 63.4% during the 4th quarter. Barclays PLC now owns 2,118 shares of the company's stock valued at $27,000 after purchasing an additional 822 shares in 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 last quarter. JPMorgan Chase & Co. acquired a new position in GH Research during the second quarter worth $79,000. BNP Paribas Financial Markets raised its holdings in GH Research by 165.4% during the second quarter. BNP Paribas Financial Markets now owns 17,010 shares of the company's stock valued at $207,000 after buying an additional 10,600 shares in the last quarter. Finally, Virtus Investment Advisers LLC lifted its position in shares of GH Research by 130.1% in the fourth quarter. Virtus Investment Advisers LLC now owns 20,408 shares of the company's stock worth $259,000 after buying an additional 11,539 shares during the last quarter. 56.90% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source