GH Research PLC (NASDAQ:GHRS) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• GH Research PLC has received an average analyst recommendation of "Buy" from seven research firms, with an average twelve-month price target of $32.00.
• Notable recent ratings include JMP Securities maintaining a "market outperform" with a target of $39.00, and HC Wainwright reaffirming a "buy" with a price objective of $40.00.
• The company, which focuses on therapies for psychiatric disorders, reported a quarterly EPS of ($0.19), surpassing analysts' estimates of ($0.61).

GH Research PLC (NASDAQ:GHRS - Get Free Report) has been given a consensus rating of "Buy" by the seven research firms that are covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $32.00.

GHRS has been the subject of several research analyst reports. Wall Street Zen upgraded GH Research from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. HC Wainwright restated a "buy" rating and issued a $40.00 price target on shares of GH Research in a research note on Friday, May 9th. Cantor Fitzgerald assumed coverage on GH Research in a research note on Wednesday, June 4th. They issued an "overweight" rating and a $25.00 price target on the stock. JMP Securities restated a "market outperform" rating and issued a $39.00 price target on shares of GH Research in a research note on Tuesday, June 24th. Finally, Guggenheim decreased their price objective on GH Research from $32.00 to $29.00 and set a "buy" rating on the stock in a report on Friday, May 9th.

Institutional Trading of GH Research

Institutional investors have recently added to or reduced their stakes in the stock. AdvisorShares Investments LLC increased its position in shares of GH Research by 15.0% during the 2nd quarter. AdvisorShares Investments LLC now owns 38,256 shares of the company's stock valued at $466,000 after purchasing an additional 5,000 shares during the last quarter. Palumbo Wealth Management LLC increased its position in shares of GH Research by 68.2% during the 2nd quarter. Palumbo Wealth Management LLC now owns 21,651 shares of the company's stock valued at $264,000 after purchasing an additional 8,782 shares during the last quarter. Cormorant Asset Management LP increased its position in shares of GH Research by 238.8% during the 1st quarter. Cormorant Asset Management LP now owns 2,009,482 shares of the company's stock valued at $22,165,000 after purchasing an additional 1,416,439 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of GH Research during the 1st quarter valued at about $5,018,000. Finally, RA Capital Management L.P. grew its position in GH Research by 3.9% during the 1st quarter. RA Capital Management L.P. now owns 6,944,648 shares of the company's stock worth $76,599,000 after acquiring an additional 257,959 shares during the last quarter. Hedge funds and other institutional investors own 56.90% of the company's stock.

GH Research Stock Up 1.9%

GHRS stock traded up $0.23 during mid-day trading on Monday, reaching $12.38. The company had a trading volume of 295,925 shares, compared to its average volume of 342,459. GH Research has a one year low of $6.00 and a one year high of $20.50. The stock's 50-day simple moving average is $13.88 and its two-hundred day simple moving average is $11.99. The stock has a market capitalization of $644.08 million, a P/E ratio of -15.49 and a beta of 0.98.

GH Research (NASDAQ:GHRS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.07. On average, research analysts forecast that GH Research will post -0.8 EPS for the current fiscal year.

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).