GH Research (NASDAQ:GHRS) Sees Large Volume Increase – Still a Buy?

Shares of GH Research PLC (NASDAQ:GHRS) saw strong trading volume on Wednesday . 141,029 shares changed hands during mid-day trading, a decline of 15% from the previous session’s volume of 165,108 shares.The stock last traded at $10.61 and had previously closed at $10.76.

Analysts Set New Price Targets

GHRS has been the topic of a number of recent research reports. Guggenheim began coverage on shares of GH Research in a research note on Thursday, March 13th. They set a “buy” rating and a $32.00 price target on the stock. Stifel Nicolaus lifted their target price on shares of GH Research from $18.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Cantor Fitzgerald initiated coverage on shares of GH Research in a research report on Thursday, February 13th. They issued an “overweight” rating and a $14.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $40.00 price objective on shares of GH Research in a report on Monday, January 27th. Finally, Royal Bank of Canada started coverage on GH Research in a research note on Friday, March 7th. They issued an “outperform” rating and a $31.00 price objective on the stock. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $30.86.

GH Research Price Performance

The stock has a market capitalization of $559.30 million, a P/E ratio of -13.61 and a beta of 0.94. The company’s 50 day simple moving average is $11.84 and its two-hundred day simple moving average is $9.39.

GH Research (NASDAQ:GHRS) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. On average, research analysts anticipate that GH Research PLC will post -0.8 earnings per share for the current fiscal year.

Institutional Trading of GH Research

Several large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new position in shares of GH Research in the fourth quarter valued at about $44,000. Two Sigma Investments LP bought a new position in shares of GH Research in the fourth quarter worth about $117,000. Millennium Management LLC acquired a new position in shares of GH Research during the fourth quarter worth approximately $145,000. AdvisorShares Investments LLC lifted its position in shares of GH Research by 15.4% during the fourth quarter. AdvisorShares Investments LLC now owns 36,011 shares of the company’s stock worth $252,000 after purchasing an additional 4,806 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of GH Research by 26.8% during the fourth quarter. Northern Trust Corp now owns 40,834 shares of the company’s stock valued at $286,000 after purchasing an additional 8,641 shares during the last quarter. Institutional investors own 56.90% of the company’s stock.

About GH Research

GH Research PLC, together with its subsidiary GH Research Ireland Limited, engages in developing various therapies to treat psychiatric and neurological disorders. It is involved in the development of 5-Methoxy-N,N-Dimethyltryptamine (5-MeO-DMT) therapies for the treatment of patients with treatment-resistant depression (TRD).