GH Research (NASDAQ:GHRS) Trading Up 4.9% - What's Next?

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.

Shares of GH Research PLC (NASDAQ:GHRS - Get Free Report) were up 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 traded hands during trading, a decline of 22% from the average daily volume of 344,067 shares. The stock had previously closed at $14.50.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GHRS shares. Wall Street Zen upgraded GH Research from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. JMP Securities reissued a "market outperform" rating and set a $39.00 target price on shares of GH Research in a report on Tuesday, June 24th. Cantor Fitzgerald initiated coverage on GH Research in a report on Wednesday, June 4th. They set an "overweight" rating and a $25.00 target price for the company. Guggenheim reduced their target price on GH Research from $32.00 to $29.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, HC Wainwright reissued a "buy" rating and set a $40.00 target price on shares of GH Research in a report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, GH Research presently has an average rating of "Moderate Buy" and an average price target of $32.00.

GH Research Price Performance

The firm has a 50 day simple moving average of $13.55 and a 200-day simple moving average of $11.74. The company has a market cap of $779.41 million, a price-to-earnings ratio of -18.96 and a beta of 0.96.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new position in GH Research in the fourth quarter valued at $44,000. Palumbo Wealth Management LLC purchased a new position in GH Research in the first quarter valued at $142,000. XTX Topco Ltd purchased a new position in GH Research in the first quarter valued at $169,000. Two Sigma Investments LP acquired a new stake in GH Research in the fourth quarter valued at $117,000. Finally, Millennium Management LLC acquired a new stake in GH Research in the fourth quarter valued at $145,000. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

About GH Research

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).

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