GH Research (NASDAQ:GHRS) Shares Gap Down - Should You Sell?

Key Points

• Shares gapped down before the open from $14.09 to $13.20 and were last trading around $13.19 on a volume of about 9,539 shares.
• Analysts are broadly bullish (9 Buy, 1 Hold, 1 Sell) with a consensus price target of $40.13, implying substantial upside from current levels.
• GH Research is a clinical-stage biotech developing inhaled 5‑MeO‑DMT therapy (lead program GH001) for treatment-resistant depression; it reported Q EPS of -$0.23 (beats -$0.29) and has a market cap of roughly $808M.

Shares of GH Research PLC (NASDAQ:GHRS - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $14.09, but opened at $13.20. GH Research shares last traded at $13.1910, with a volume of 9,539 shares.

Analyst Ratings Changes

A number of analysts have commented on the company. Citigroup reiterated a "market outperform" rating on shares of GH Research in a research report on Tuesday, January 6th. Guggenheim set a $34.00 price target on shares of GH Research and gave the company a "buy" rating in a report on Tuesday, March 10th. Citizens Jmp increased their price objective on shares of GH Research from $39.00 to $42.00 and gave the company a "market outperform" rating in a research note on Friday, March 6th. Wolfe Research set a $39.00 price target on shares of GH Research in a research note on Tuesday, January 6th. Finally, Needham & Company LLC raised their target price on GH Research from $31.00 to $32.00 and gave the stock a "buy" rating in a research report on Friday, March 6th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $40.13.

GH Research Price Performance

The company has a market cap of $807.93 million, a price-to-earnings ratio of -16.32 and a beta of 1.00. The business has a 50 day simple moving average of $15.35 and a 200 day simple moving average of $14.37.

GH Research (NASDAQ:GHRS - Get Free Report) last posted its quarterly earnings data on Friday, March 6th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.06. As a group, sell-side analysts anticipate that GH Research PLC will post -0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GH Research

A number of institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC boosted its position in shares of GH Research by 63.4% in 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. Osaic Holdings Inc. raised its stake 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 purchasing an additional 2,400 shares during the period. Jefferies Financial Group Inc. boosted its position in GH Research by 0.4% during the 4th quarter. Jefferies Financial Group Inc. now owns 712,300 shares of the company's stock worth $9,046,000 after acquiring an additional 2,988 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in GH Research in the 4th quarter valued at $38,000. Finally, JPMorgan Chase & Co. bought a new position in GH Research in the second quarter valued at approximately $79,000. 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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