GH Research (NASDAQ:GHRS) Shares Up 8.2% – Here’s What Happened

GH Research PLC (NASDAQ:GHRS) rose 8.2% during mid-day trading on Tuesday . The stock traded as high as $24.19 and last traded at $23.9080. 162,904 shares traded hands during trading, a decline of 48% from the average daily volume of 312,320 shares. The stock had previously closed at $22.09.

Analysts Set New Price Targets

GHRS has been the topic of several recent analyst reports. Guggenheim set a $34.00 target price on GH Research and gave the company a “buy” rating in a research note on Tuesday, March 10th. HC Wainwright decreased their price target on GH Research from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Citizens Jmp lowered their price target on GH Research from $42.00 to $39.00 and set a “market outperform” rating on the stock in a report on Friday, May 15th. Cantor Fitzgerald lifted their price objective on shares of GH Research from $25.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Finally, Needham & Company LLC upped their price objective on shares of GH Research from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Nine investment 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’s stock. According to MarketBeat, GH Research currently has an average rating of “Moderate Buy” and an average target price of $40.38.

GH Research Trading Up 9.0%

The firm has a market capitalization of $1.65 billion, a P/E ratio of -26.12 and a beta of 1.31. The business’s fifty day moving average is $20.99 and its 200 day moving average is $17.01.

GH Research (NASDAQ:GHRS) last announced its earnings results on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.04). As a group, sell-side analysts predict that GH Research PLC will post -1.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GH Research

Hedge funds have recently added to or reduced their stakes in the company. Lynx1 Capital Management LP raised its stake in shares of GH Research by 27.5% in the 3rd quarter. Lynx1 Capital Management LP now owns 8,601,189 shares of the company’s stock valued at $122,997,000 after acquiring an additional 1,854,238 shares in the last quarter. Avoro Capital Advisors LLC acquired a new position in GH Research during the fourth quarter valued at approximately $22,860,000. Millennium Management LLC grew its holdings in GH Research by 324.1% during the third quarter. Millennium Management LLC now owns 863,602 shares of the company’s stock valued at $12,350,000 after purchasing an additional 659,957 shares during the last quarter. Troluce Capital Advisors LLC raised its position in shares of GH Research by 165.4% in the first quarter. Troluce Capital Advisors LLC now owns 990,472 shares of the company’s stock valued at $13,926,000 after purchasing an additional 617,260 shares during the period. Finally, RTW Investments LP raised its position in shares of GH Research by 6.5% in the fourth quarter. RTW Investments LP now owns 5,933,815 shares of the company’s stock valued at $75,359,000 after purchasing an additional 364,251 shares during the period. Institutional investors and hedge funds own 56.90% of the company’s stock.

GH Research Company Profile

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.