GH Research (NASDAQ:GHRS) Raised to Strong-Buy at Wells Fargo & Company

Key Points

• Wells Fargo upgraded GH Research to “strong buy,” while the broader analyst consensus remains “Moderate Buy,” with an average price target of $40.78.
• GH Research shares opened at $27.75, with a market capitalization of approximately $1.90 billion and a 52-week range of $11.32 to $31.00.
• The clinical-stage biotechnology company reported a quarterly loss of $0.31 per share, missing the $0.27 consensus estimate; institutional investors own 56.90% of its stock.

GH Research (NASDAQ:GHRS - Get Free Report) was upgraded by analysts at Wells Fargo & Company to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also recently commented on the stock. HC Wainwright reduced their target price 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. Cantor Fitzgerald boosted their price target 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. Citizens Jmp reduced their price objective 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. Weiss Ratings restated a "sell (d-)" rating on shares of GH Research in a report on Friday, July 17th. Finally, Citigroup reaffirmed an "outperform" rating on shares of GH Research in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, GH Research presently has a consensus rating of "Moderate Buy" and an average target price of $40.78.

GH Research Stock Performance

NASDAQ GHRS opened at $27.75 on Monday. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -30.16 and a beta of 1.28. The stock's 50 day moving average price is $24.55 and its two-hundred day moving average price is $19.39. 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 results 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). On average, equities research analysts forecast that GH Research will post -1.46 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GHRS. Barclays PLC increased its stake in shares of GH Research by 63.4% during the 4th quarter. Barclays PLC now owns 2,118 shares of the company's stock worth $27,000 after purchasing an additional 822 shares during the last quarter. North Star Investment Management Corp. acquired a new stake in GH Research in the 1st quarter valued at about $31,000. Royal Bank of Canada lifted its stake in GH Research by 43.1% in the 1st 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in GH Research during the fourth quarter worth about $38,000. Finally, Osaic Holdings Inc. grew its holdings 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 purchasing an additional 2,400 shares during the period. Institutional investors own 56.90% of the company's stock.

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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