GH Research (NASDAQ:GHRS) Stock Jumps 5.4% on Strong Earnings

Key Points

• GH Research shares rose 5.4% to about $19.48 after the company reported a quarterly loss of $0.18 per share, beating analysts’ expected loss of $0.31 per share. Trading volume was 63% below its average.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $45.00; 10 analysts rate the stock Buy, one Hold, and one Sell.
• GH Research is a clinical-stage biopharmaceutical company developing mebufotenin-based treatments, including an investigational inhaled candidate for treatment-resistant depression.

Shares of GH Research PLC (NASDAQ:GHRS - Get Free Report) traded up 5.4% on Friday following a better than expected earnings announcement. The company traded as high as $19.66 and last traded at $19.4840. 112,971 shares changed hands during trading, a decline of 63% from the average daily volume of 301,856 shares. The stock had previously closed at $18.49.

The company reported ($0.18) EPS for the quarter, topping analysts' consensus estimates of ($0.31) by $0.13.

Analyst Ratings Changes

GHRS has been the subject of several research reports. HC Wainwright reaffirmed a "buy" rating on shares of GH Research in a research report on Monday, August 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of GH Research in a research note on Thursday, October 15th. Needham & Company LLC raised 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. New Street Research set a $65.00 target price on GH Research in a report on Monday, August 10th. Finally, Zacks Research raised shares of GH Research from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 13th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.00.

Hedge Funds Weigh In On GH Research

Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada raised its position 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 stake in GH Research during the 3rd quarter worth approximately $82,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of GH Research by 30.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 17,525 shares of the company's stock valued at $432,000 after buying an additional 4,106 shares during the period. Farther Finance Advisors LLC increased its stake in shares of GH Research by 9,720.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 9,820 shares of the company's stock valued at $231,000 after purchasing an additional 9,720 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in GH Research in the second quarter valued at about $495,000. Institutional investors own 56.90% of the company's stock.

GH Research Stock Up 4.2%

The firm has a market cap of $1.32 billion, a P/E ratio of -19.58 and a beta of 1.31. The business's 50 day moving average is $22.48 and its two-hundred day moving average is $21.63.

About GH Research

GH Research plc is a clinical-stage biopharmaceutical company focused on developing treatments for psychiatric and neurological disorders. The company is based in Dublin, Ireland, and its research centers on mebufotenin, also known as 5-MeO-DMT. Its lead investigational candidate, GH001, is an inhaled formulation being studied for treatment-resistant depression. GH Research is also developing other mebufotenin-based candidates and delivery approaches. These treatments remain investigational and are not approved for general use.

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