GH Research (NASDAQ:GHRS) Given New $39.00 Price Target at Needham & Company LLC

GH Research (NASDAQ:GHRS) had its target price boosted by investment analysts at Needham & Company LLC from $32.00 to $39.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 26.97% from the stock’s previous close.

GHRS has been the topic of a number of other research reports. Cantor Fitzgerald boosted their price objective on shares of GH Research from $25.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Zacks Research cut GH Research from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GH Research in a report on Friday, July 17th. HC Wainwright lowered their target price on GH Research from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Finally, Wells Fargo & Company began coverage on GH Research in a research note on Monday, July 27th. They set an “overweight” rating and a $44.00 price target for the company. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, GH Research has an average rating of “Moderate Buy” and an average target price of $41.56.

GH Research Stock Up 5.4%

GHRS traded up $1.58 on Thursday, hitting $30.71. 341,496 shares of the company traded hands, compared to its average volume of 306,184. GH Research has a 12-month low of $11.32 and a 12-month high of $31.00. The company has a 50 day moving average of $25.41 and a 200-day moving average of $20.00. The stock has a market capitalization of $2.11 billion, a PE ratio of -33.39 and a beta of 1.29.

GH Research (NASDAQ:GHRS) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.07. On average, research analysts anticipate that GH Research will post -1.46 EPS for the current year.

Institutional Trading of GH Research

Large investors have recently made changes to their positions in the stock. Barclays PLC raised its stake 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 purchasing an additional 822 shares during the last quarter. North Star Investment Management Corp. acquired a new stake in shares of GH Research during the 1st quarter worth about $31,000. Royal Bank of Canada grew its holdings in shares of GH Research by 43.1% during the first quarter. Royal Bank of Canada now owns 2,590 shares of the company’s stock worth $36,000 after buying an additional 780 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of GH Research in the fourth quarter valued at approximately $38,000. Finally, Osaic Holdings Inc. raised its position 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 buying 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.