GH Research (NASDAQ:GHRS) Shares Up 4.9% - Time to Buy?

Key Points

• GH Research PLC's stock saw a 4.9% increase during mid-day trading, reaching a price of $15.21, following a previous close of $14.50.
• Analyst ratings for GH Research indicate an average target price of $32.00, with seven analysts giving it a "buy" rating and one a "hold" rating.
• The company is focused on developing therapies for psychiatric and neurological disorders, specifically targeting treatment-resistant depression with 5-MeO-DMT therapies.

GH Research PLC (NASDAQ:GHRS - Get Free Report)'s share price rose 4.9% during mid-day trading on Monday . The company traded as high as $15.17 and last traded at $15.21. Approximately 267,673 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 344,067 shares. The stock had previously closed at $14.50.

Wall Street Analyst Weigh In

GHRS has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of GH Research from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. JMP Securities reissued a "market outperform" rating and issued a $39.00 price target on shares of GH Research in a report on Tuesday, June 24th. HC Wainwright reissued a "buy" rating and issued a $40.00 price target on shares of GH Research in a report on Friday, May 9th. Cantor Fitzgerald initiated coverage on shares of GH Research in a report on Wednesday, June 4th. They issued an "overweight" rating and a $25.00 price target on the stock. Finally, Guggenheim lowered their price target on shares of GH Research from $32.00 to $29.00 and set a "buy" rating on the stock in a report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.00.

GH Research Stock Down 3.7%

The company's 50-day moving average is $13.77 and its two-hundred day moving average is $11.86. The company has a market capitalization of $719.84 million, a P/E ratio of -17.34 and a beta of 0.96.

GH Research (NASDAQ:GHRS - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.42. On average, sell-side analysts predict that GH Research PLC will post -0.8 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GHRS. Geode Capital Management LLC grew its position in GH Research by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 72,513 shares of the company's stock valued at $508,000 after acquiring an additional 3,092 shares during the last quarter. AdvisorShares Investments LLC grew its position in GH Research by 15.4% during the fourth quarter. AdvisorShares Investments LLC now owns 36,011 shares of the company's stock valued at $252,000 after acquiring an additional 4,806 shares during the last quarter. BNP Paribas Financial Markets bought a new position in GH Research during the fourth quarter valued at approximately $44,000. Northern Trust Corp grew its position in GH Research by 26.8% during the fourth quarter. Northern Trust Corp now owns 40,834 shares of the company's stock valued at $286,000 after acquiring an additional 8,641 shares during the last quarter. Finally, Palumbo Wealth Management LLC grew its position in GH Research by 68.2% during the second quarter. Palumbo Wealth Management LLC now owns 21,651 shares of the company's stock valued at $264,000 after acquiring an additional 8,782 shares during the last quarter. 56.90% of the stock is currently owned by institutional investors.

GH Research Company Profile

GH Research PLC, together with its subsidiary GH Research Ireland Limited, engages in developing various therapies to treat psychiatric and neurological disorders. It is involved in the development of 5-Methoxy-N,N-Dimethyltryptamine (5-MeO-DMT) therapies for the treatment of patients with treatment-resistant depression (TRD).