GH Research (NASDAQ:GHRS) Sees Large Volume Increase - Time to Buy?

Key Points

• Analysts remain broadly bullish: Ten analysts rate GH Research a Buy, one rates it Hold, and one rates it Sell, resulting in a “Moderate Buy” consensus and an average price target of $45 versus the recent price near $28.
• GH Research shares rose 3.1% to $28.095, while trading volume fell 39% from the prior session. The company also reported a quarterly loss of $0.23 per share, beating estimates by $0.06.
• Institutional ownership is significant at 56.9%. Several hedge funds increased or initiated positions, including Troluce Capital Advisors, which boosted its stake by 165.4%.

GH Research PLC (NASDAQ:GHRS - Get Free Report) saw an uptick in trading volume on Thursday . 181,303 shares traded hands during trading, a decline of 39% from the previous session's volume of 296,380 shares.The stock last traded at $28.0950 and had previously closed at $27.75.

Analyst Ratings Changes

Several equities analysts have recently commented on GHRS shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of GH Research in a research note on Friday, July 17th. Needham & Company LLC upped their price target on shares of GH Research from $32.00 to $39.00 and gave the company a "buy" rating in a report on Thursday, August 6th. HC Wainwright reissued a "buy" rating on shares of GH Research in a research report on Monday, August 10th. New Street Research set a $65.00 target price on shares of GH Research in a research note on Monday, August 10th. Finally, Guggenheim increased their price target on shares of GH Research from $34.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, GH Research presently has an average rating of "Moderate Buy" and an average price target of $45.00.

GH Research Stock Up 3.1%

The firm's 50-day moving average price is $28.26 and its 200 day moving average price is $22.70. The firm has a market cap of $1.96 billion, a P/E ratio of -28.54 and a beta of 1.27.

GH Research (NASDAQ:GHRS - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.06. On average, equities analysts predict that GH Research PLC will post -1.2 earnings per share for the current year.

Institutional Trading of GH Research

Several hedge funds have recently added to or reduced their stakes in the business. Avoro Capital Advisors LLC bought a new stake in shares of GH Research during the 4th quarter worth about $22,860,000. Troluce Capital Advisors LLC lifted its stake in GH Research by 165.4% in the 1st quarter. Troluce Capital Advisors LLC now owns 990,472 shares of the company's stock worth $13,926,000 after acquiring an additional 617,260 shares in the last quarter. Jefferies Financial Group Inc. boosted its position in GH Research by 0.4% during the 4th quarter. Jefferies Financial Group Inc. now owns 712,300 shares of the company's stock worth $9,046,000 after acquiring an additional 2,988 shares during the period. Braidwell LP acquired a new position in shares of GH Research in the 2nd quarter valued at about $5,571,000. Finally, CenterBook Partners LP lifted its position in shares of GH Research by 70.6% in the fourth quarter. CenterBook Partners LP now owns 283,441 shares of the company's stock worth $3,600,000 after purchasing an additional 117,288 shares in the last quarter. Institutional investors own 56.90% of the company's stock.

GH Research Company Profile

GH Research plc is a clinical-stage biopharmaceutical company headquartered in Dublin, Ireland. Founded in 2018, the company focuses on developing novel therapies for psychiatric and neurological disorders, with an emphasis on treatments that may offer rapid effects.

Its lead program, GH001, is an inhaled formulation of mebufotenin, also known as 5-MeO-DMT, being studied for treatment-resistant depression. GH Research is also developing additional formulations and delivery approaches based on mebufotenin, including the GH002 program.

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