Zacks Research Upgrades GH Research (NASDAQ:GHRS) to Hold

Key Points

• Zacks Research upgraded GH Research from “strong sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with a $45.00 price target.
• GH Research shares rose 4.6% to open at $29.49, near their 52-week high of $31.44. The company reported a quarterly loss of $0.23 per share, beating the consensus estimate of a $0.29 loss.
• Institutional investors own 56.9% of GH Research, and several firms recently increased their positions. The clinical-stage biotechnology company is developing psychedelic-inspired treatments, including its lead depression program, GH001.

GH Research (NASDAQ:GHRS - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Guggenheim boosted their price objective on GH Research from $34.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. New Street Research set a $65.00 target price on GH Research in a research report on Monday. Citigroup reaffirmed an "outperform" rating on shares of GH Research in a research note on Friday, May 15th. Cantor Fitzgerald boosted their price target on GH Research from $35.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Finally, Citizens Jmp reduced their price objective on GH Research from $42.00 to $39.00 and set a "market outperform" rating for the company in a research note on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, GH Research has a consensus rating of "Moderate Buy" and a consensus price target of $45.00.

GH Research Stock Up 4.6%

Shares of NASDAQ GHRS opened at $29.49 on Thursday. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -29.49 and a beta of 1.29. The company's 50-day simple moving average is $26.25 and its 200-day simple moving average is $20.61. GH Research has a 52-week low of $11.83 and a 52-week high of $31.44.

GH Research (NASDAQ:GHRS - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.06. Equities research analysts anticipate that GH Research will post -1.2 EPS for the current fiscal year.

Institutional Trading of GH Research

Large investors have recently bought and sold shares of the business. Barclays PLC lifted its stake in GH Research by 63.4% in the 4th quarter. Barclays PLC now owns 2,118 shares of the company's stock worth $27,000 after purchasing an additional 822 shares in the last quarter. North Star Investment Management Corp. acquired a new position in shares of GH Research during the 1st quarter worth approximately $31,000. Royal Bank of Canada grew its position in shares of GH Research by 43.1% in the first quarter. Royal Bank of Canada now owns 2,590 shares of the company's stock valued at $36,000 after purchasing an additional 780 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of GH Research in the fourth quarter valued at approximately $38,000. Finally, Osaic Holdings Inc. increased its holdings in shares of GH Research by 63.6% in the second 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.

About GH Research

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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