GH Research (NASDAQ:GHRS) Coverage Initiated by Analysts at Needham & Company LLC

Key Points

• Needham & Company LLC has initiated coverage on GH Research (NASDAQ:GHRS) with a "buy" rating and a price target of $19.00, indicating a potential upside of 46.60% from the current price.
• GH Research has received a mixed response from analysts, with eight rating it as a "buy", one as "hold", and one as "sell", leading to a consensus rating of "Moderate Buy" with a price target of $30.38.
• As of now, shares of GH Research are trading at $12.96, having recently reported an EPS of ($0.15) for the last quarter, exceeding expectations.

Stock analysts at Needham & Company LLC initiated coverage on shares of GH Research (NASDAQ:GHRS - Get Free Report) in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $19.00 price target on the stock. Needham & Company LLC's price objective points to a potential upside of 46.60% from the stock's previous close.

Several other equities research analysts have also commented on GHRS. Zacks Research lowered GH Research from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Wall Street Zen upgraded GH Research from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of GH Research in a research report on Wednesday, October 8th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $39.00 price objective on shares of GH Research in a research report on Tuesday, June 24th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, GH Research currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.38.

GH Research Stock Up 2.9%

Shares of GHRS stock opened at $12.96 on Monday. The stock has a market cap of $674.31 million, a PE ratio of -17.51 and a beta of 0.97. The business has a 50-day simple moving average of $13.16 and a 200-day simple moving average of $12.47. GH Research has a 52-week low of $6.72 and a 52-week high of $20.50.

GH Research (NASDAQ:GHRS - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.07. Sell-side analysts anticipate that GH Research will post -0.8 earnings per share for the current fiscal year.

Institutional Trading of GH Research

Several institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. lifted its holdings in shares of GH Research by 63.6% during the 2nd quarter. Osaic Holdings Inc. now owns 6,175 shares of the company's stock valued at $75,000 after acquiring an additional 2,400 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in GH Research in the second quarter valued at approximately $79,000. Virtus Investment Advisers LLC acquired a new position in GH Research in the second quarter valued at approximately $89,000. Palumbo Wealth Management LLC acquired a new position in GH Research in the first quarter valued at approximately $142,000. Finally, XTX Topco Ltd bought a new position in GH Research in the 1st quarter worth about $169,000. 56.90% of the stock is owned by hedge funds and other 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).