GH Research (NASDAQ:GHRS) Shares Gap Up – Time to Buy?

GH Research PLC (NASDAQ:GHRS) shares gapped up prior to trading on Monday . The stock had previously closed at $13.24, but opened at $18.82. GH Research shares last traded at $16.27, with a volume of 3,737,170 shares.

Analyst Ratings Changes

A number of brokerages have issued reports on GHRS. Wolfe Research set a $39.00 price target on GH Research in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of GH Research in a research note on Wednesday, October 8th. Needham & Company LLC set a $29.00 price target on shares of GH Research in a research report on Tuesday. Canaccord Genuity Group lifted their price objective on shares of GH Research from $35.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday. Finally, HC Wainwright decreased their price objective on shares of GH Research from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.11.

GH Research Trading Up 27.1%

The firm’s fifty day moving average is $13.75 and its 200 day moving average is $13.75. The company has a market cap of $933.90 million, a PE ratio of -24.26 and a beta of 0.98.

GH Research (NASDAQ:GHRS) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.23). As a group, sell-side analysts anticipate that GH Research PLC will post -0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On GH Research

Large investors have recently bought and sold shares of the company. Palumbo Wealth Management LLC raised its holdings in shares of GH Research by 68.2% during the second quarter. Palumbo Wealth Management LLC now owns 21,651 shares of the company’s stock valued at $264,000 after acquiring an additional 8,782 shares during the last quarter. AdvisorShares Investments LLC raised its stake in GH Research by 15.0% in 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. JPMorgan Chase & Co. purchased a new position in GH Research in the 2nd quarter valued at $79,000. Virtus Investment Advisers LLC purchased a new position in GH Research in the 2nd quarter valued at $89,000. Finally, Stempoint Capital LP acquired a new stake in GH Research during the 2nd quarter worth $1,229,000. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

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.