GH Research (NASDAQ:GHRS) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded GH Research from “sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with a $42.78 target price.
• GH Research shares opened at $30.27, near their 12-month high of $31.44, and the company reported a quarterly loss of $0.23 per share—better than the expected $0.29 loss.
• Institutional investors own 56.9% of the company, with several hedge funds recently increasing their positions; GH Research is developing psychedelic-inspired treatments for neuropsychiatric disorders.

GH Research (NASDAQ:GHRS - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

GHRS has been the subject of several other research reports. Zacks Research cut GH Research from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of GH Research in a research note on Friday, July 17th. Citizens Jmp cut their price objective on shares of GH Research from $42.00 to $39.00 and set a "market outperform" rating on the stock in a report on Friday, May 15th. Cantor Fitzgerald raised their price objective on shares of GH Research from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Wells Fargo & Company assumed coverage on shares of GH Research in a research report on Monday, July 27th. They set an "overweight" rating and a $44.00 price objective for the company. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, GH Research has a consensus rating of "Moderate Buy" and a consensus target price of $42.78.

GH Research Price Performance

NASDAQ:GHRS opened at $30.27 on Friday. GH Research has a 12 month low of $11.32 and a 12 month high of $31.44. The firm has a market capitalization of $2.08 billion, a PE ratio of -30.27 and a beta of 1.29. The business's fifty day moving average price is $25.70 and its 200 day moving average price is $20.16.

GH Research (NASDAQ:GHRS - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.06. As a group, equities analysts anticipate that GH Research will post -1.46 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in GH Research by 63.4% in the fourth 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 last quarter. North Star Investment Management Corp. purchased a new position in shares of GH Research during the first quarter worth approximately $31,000. Royal Bank of Canada increased its holdings in shares of GH Research by 43.1% in the 1st quarter. Royal Bank of Canada now owns 2,590 shares of the company's stock valued at $36,000 after acquiring an additional 780 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of GH Research in the 4th quarter valued at $38,000. Finally, Osaic Holdings Inc. raised its position in 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 last quarter. Hedge funds and other institutional investors own 56.90% of the company's stock.

GH Research Company Profile

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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