GH Research (NASDAQ:GHRS) Shares Up 6.7% – Here’s Why

GH Research PLC (NASDAQ:GHRS)’s share price rose 6.7% during trading on Monday . The company traded as high as $10.92 and last traded at $11.20. Approximately 289,391 shares were traded during mid-day trading, an increase of 78% from the average daily volume of 162,579 shares. The stock had previously closed at $10.50.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GHRS shares. Stifel Nicolaus increased their price objective on GH Research from $18.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Cantor Fitzgerald began coverage on GH Research in a research report on Thursday, February 13th. They set an “overweight” rating and a $14.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of GH Research in a report on Monday, January 27th. Royal Bank of Canada assumed coverage on GH Research in a research report on Friday. They issued an “outperform” rating and a $31.00 target price on the stock. Finally, Canaccord Genuity Group decreased their price objective on GH Research from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $30.67.

GH Research Price Performance

The company has a 50-day moving average price of $10.80 and a two-hundred day moving average price of $9.17. The company has a market cap of $582.71 million, a PE ratio of -14.18 and a beta of 0.94.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Lynx1 Capital Management LP boosted its stake in shares of GH Research by 15.8% during the 4th quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company’s stock worth $34,013,000 after acquiring an additional 663,100 shares in the last quarter. Diadema Partners LP purchased a new stake in shares of GH Research during the fourth quarter valued at $711,000. RA Capital Management L.P. boosted its position in shares of GH Research by 1.3% in the 3rd quarter. RA Capital Management L.P. now owns 6,686,689 shares of the company’s stock valued at $44,734,000 after purchasing an additional 85,000 shares during the period. Woodline Partners LP increased its stake in GH Research by 112.0% in the 4th quarter. Woodline Partners LP now owns 78,949 shares of the company’s stock worth $553,000 after purchasing an additional 41,711 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in GH Research during the 4th quarter worth about $145,000. Institutional investors and hedge funds own 56.90% of the company’s stock.

GH Research Company Profile

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).