GH Research (NASDAQ:GHRS) Upgraded by Wells Fargo & Company to “Strong-Buy” Rating

Wells Fargo & Company upgraded shares of GH Research (NASDAQ:GHRS) to a strong-buy rating in a research report released on Monday morning,Zacks.com reports.

Several other research firms also recently weighed in on GHRS. Weiss Ratings restated a “sell (d-)” rating on shares of GH Research in a research report on Friday, July 17th. Cantor Fitzgerald boosted their price target on GH Research from $25.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. HC Wainwright reduced their price objective 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. Zacks Research lowered GH Research from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 15th. Finally, Citigroup reaffirmed an “outperform” rating on shares of GH Research in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.78.

GH Research Stock Up 1.7%

GHRS stock opened at $27.75 on Monday. The stock has a market capitalization of $1.90 billion, a P/E ratio of -30.16 and a beta of 1.28. The firm has a 50-day simple moving average of $24.55 and a 200-day simple moving average of $19.39. GH Research has a 52 week low of $11.32 and a 52 week high of $31.00.

GH Research (NASDAQ:GHRS) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.04). On average, analysts expect that GH Research will post -1.46 earnings per share for the current year.

Hedge Funds Weigh In On GH Research

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in GH Research by 63.4% in the 4th quarter. Barclays PLC now owns 2,118 shares of the company’s stock valued at $27,000 after buying an additional 822 shares in the last quarter. North Star Investment Management Corp. purchased a new position in shares of GH Research during the 1st quarter worth $31,000. Royal Bank of Canada raised its holdings in shares of GH Research by 43.1% during the 1st quarter. Royal Bank of Canada now owns 2,590 shares of the company’s stock worth $36,000 after acquiring an additional 780 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of GH Research during the 4th quarter valued at about $38,000. Finally, Osaic Holdings Inc. boosted its position in shares of GH Research by 63.6% during the 2nd quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock valued at $75,000 after acquiring an additional 2,400 shares during the last quarter. 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.