GH Research (NASDAQ:GHRS) Reaches New 52-Week High – What’s Next?

Shares of GH Research PLC (NASDAQ:GHRS) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $26.35 and last traded at $26.2650, with a volume of 24293 shares traded. The stock had previously closed at $25.34.

Analyst Ratings Changes

A number of brokerages have recently commented on GHRS. Needham & Company LLC raised their price target on GH Research from $31.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GH Research in a report on Tuesday, April 21st. Citizens Jmp decreased their target price on shares of GH Research from $42.00 to $39.00 and set a “market outperform” rating for the company in a research report on Friday, May 15th. HC Wainwright lowered their target price on shares of GH Research from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Finally, Guggenheim set a $34.00 price target on shares of GH Research and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.38.

GH Research Stock Up 7.7%

The stock has a market capitalization of $1.87 billion, a P/E ratio of -29.70 and a beta of 1.31. The firm’s 50-day simple moving average is $21.49 and its 200 day simple moving average is $17.21.

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

Institutional Trading of GH Research

A number of large investors have recently added to or reduced their stakes in the business. Lynx1 Capital Management LP grew its position in GH Research by 27.5% in the third quarter. Lynx1 Capital Management LP now owns 8,601,189 shares of the company’s stock worth $122,997,000 after buying an additional 1,854,238 shares during the last quarter. RTW Investments LP lifted its position in shares of GH Research by 6.5% during the 4th quarter. RTW Investments LP now owns 5,933,815 shares of the company’s stock valued at $75,359,000 after acquiring an additional 364,251 shares during the last quarter. Avoro Capital Advisors LLC bought a new stake in shares of GH Research during the 4th quarter worth $22,860,000. Troluce Capital Advisors LLC boosted its stake in shares of GH Research by 165.4% during 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. Finally, Millennium Management LLC grew its holdings in shares of GH Research by 324.1% in the 3rd quarter. Millennium Management LLC now owns 863,602 shares of the company’s stock worth $12,350,000 after acquiring an additional 659,957 shares during the last quarter. 56.90% of the stock is currently owned by institutional investors.

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.