GH Research (NASDAQ:GHRS) Receives Buy Rating from Needham & Company LLC

GH Research (NASDAQ:GHRS)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They currently have a $19.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 43.50% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of GH Research in a report on Wednesday, October 8th. Wall Street Zen lowered GH Research from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, HC Wainwright reduced their target price on shares of GH Research from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.00.

GH Research Trading Up 4.3%

NASDAQ:GHRS opened at $13.24 on Monday. The company has a market capitalization of $688.88 million, a P/E ratio of -17.89 and a beta of 0.98. The firm has a 50-day moving average price of $13.73 and a two-hundred day moving average price of $13.71. GH Research has a twelve month low of $7.72 and a twelve month high of $20.50.

GH Research (NASDAQ:GHRS) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.23) EPS for the quarter, meeting the consensus estimate of ($0.23). On average, equities research analysts predict that GH Research will post -0.8 earnings per share for the current year.

Institutional Trading of GH Research

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lynx1 Capital Management LP lifted its holdings in shares of GH Research by 27.5% during the 3rd quarter. Lynx1 Capital Management LP now owns 8,601,189 shares of the company’s stock worth $122,997,000 after acquiring an additional 1,854,238 shares during the period. Millennium Management LLC boosted 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 valued at $12,350,000 after purchasing an additional 659,957 shares during the last quarter. HighVista Strategies LLC boosted its holdings in shares of GH Research by 363.0% in the 3rd quarter. HighVista Strategies LLC now owns 241,894 shares of the company’s stock valued at $3,459,000 after purchasing an additional 189,647 shares during the last quarter. CenterBook Partners LP purchased a new stake in shares of GH Research during the 3rd quarter valued at $2,376,000. Finally, Stempoint Capital LP acquired a new stake in shares of GH Research during the 2nd quarter worth $1,229,000. Hedge funds and other institutional investors 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.