GH Research (NASDAQ:GHRS) Reaches New 12-Month High - Here's Why

Key Points

• GH Research (NASDAQ:GHRS) reached a new 52-week high, trading up about 17% to roughly $24.08 on elevated volume (~47,936 shares) and a market cap of about $1.33 billion.
• Analyst sentiment has strengthened with multiple price-target raises — nine Buys, one Hold and one Sell — yielding a consensus "Moderate Buy" and an average target price of $40.13, with top targets as high as $70.
• GH Research is a clinical-stage biotech developing an inhaled 5‑MeO‑DMT therapy (GH001) for neuropsychiatric disorders; it reported quarterly EPS of ($0.23) that beat estimates and has ~56.9% institutional ownership.

GH Research PLC (NASDAQ:GHRS - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $21.01 and last traded at $24.0760, with a volume of 47936 shares traded. The stock had previously closed at $18.34.

Analysts Set New Price Targets

GHRS has been the topic of several recent analyst reports. Needham & Company LLC boosted their price objective on GH Research from $31.00 to $32.00 and gave the company a "buy" rating in a report on Friday, March 6th. Citizens Jmp boosted their price objective on GH Research from $39.00 to $42.00 and gave the company a "market outperform" rating in a report on Friday, March 6th. Citigroup reiterated a "market outperform" rating on shares of GH Research in a report on Tuesday, January 6th. Wolfe Research set a $39.00 price objective on GH Research in a report on Tuesday, January 6th. Finally, HC Wainwright increased their price target on GH Research from $35.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, March 2nd. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, GH Research presently has an average rating of "Moderate Buy" and an average target price of $40.13.

GH Research Trading Up 17.0%

The firm has a market cap of $1.33 billion, a PE ratio of -26.81 and a beta of 1.00. The business has a fifty day moving average price of $15.22 and a 200 day moving average price of $14.60.

GH Research (NASDAQ:GHRS - Get Free Report) last released its quarterly earnings results on Friday, March 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.29) by $0.06. On average, research analysts expect that GH Research PLC will post -0.8 earnings per share for the current fiscal year.

Institutional Trading of GH Research

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC lifted its holdings in shares of GH Research by 63.4% in the 4th 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. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of GH Research in the 4th quarter valued at approximately $38,000. Osaic Holdings Inc. lifted 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 buying an additional 2,400 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of GH Research in the 2nd quarter valued at approximately $79,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of GH Research in the 4th quarter valued at approximately $128,000. 56.90% of the stock is owned by institutional investors and hedge funds.

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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