GH Research (NASDAQ:GHRS) Price Target Raised to $40.00

GH Research (NASDAQ:GHRS) had its price objective raised by Royal Bank Of Canada from $33.00 to $40.00 in a research note released on Friday morning, MarketBeat reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other research firms have also commented on GHRS. Guggenheim reiterated a “buy” rating and set a $29.00 price objective on shares of GH Research in a research note on Monday, January 5th. TD Cowen restated a “buy” rating on shares of GH Research in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GH Research in a research report on Wednesday, October 8th. Wall Street Zen lowered GH Research from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Canaccord Genuity Group boosted their target price on GH Research from $35.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.11.

GH Research Price Performance

Shares of NASDAQ GHRS opened at $16.73 on Friday. The stock has a market capitalization of $870.46 million, a P/E ratio of -22.61 and a beta of 0.98. GH Research has a 1-year low of $7.98 and a 1-year high of $20.50. The business has a fifty day moving average price of $14.44 and a 200 day moving average price of $14.01.

GH Research (NASDAQ:GHRS) last posted its earnings results on Thursday, November 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.23). As a group, equities research analysts anticipate that GH Research will post -0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GHRS. Osaic Holdings Inc. boosted its position in 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. JPMorgan Chase & Co. acquired a new stake in GH Research during the 2nd quarter valued at approximately $79,000. Virtus Investment Advisers LLC acquired a new stake in GH Research during the 2nd quarter valued at approximately $89,000. BNP Paribas Financial Markets boosted its holdings in shares of GH Research by 165.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 17,010 shares of the company’s stock valued at $207,000 after acquiring an additional 10,600 shares during the last quarter. Finally, Man Group plc acquired a new stake in shares of GH Research in the third quarter worth $315,000. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

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.