GH Research PLC (NASDAQ:GHRS) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of GH Research PLC (NASDAQ:GHRS) have earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $40.3750.

Several brokerages have weighed in on GHRS. Citizens Jmp lowered their price objective on GH Research from $42.00 to $39.00 and set a “market outperform” rating for the company in a research report on Friday, May 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GH Research in a research report on Tuesday, April 21st. Cantor Fitzgerald boosted their price objective on GH Research from $25.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Guggenheim set a $34.00 price objective on GH Research and gave the company a “buy” rating in a research report on Tuesday, March 10th. Finally, Needham & Company LLC boosted their target price on GH Research from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, March 6th.

Hedge Funds Weigh In On GH Research

Several hedge funds have recently made changes to their positions in GHRS. Lynx1 Capital Management LP increased its stake in shares of GH Research by 27.5% during the third quarter. Lynx1 Capital Management LP now owns 8,601,189 shares of the company’s stock valued at $122,997,000 after buying an additional 1,854,238 shares during the period. Avoro Capital Advisors LLC purchased a new position in shares of GH Research during the fourth quarter valued at approximately $22,860,000. Millennium Management LLC increased its stake in shares of GH Research by 324.1% during the third quarter. Millennium Management LLC now owns 863,602 shares of the company’s stock valued at $12,350,000 after buying an additional 659,957 shares during the period. Troluce Capital Advisors LLC increased its stake in shares of GH Research by 165.4% during the first quarter. Troluce Capital Advisors LLC now owns 990,472 shares of the company’s stock valued at $13,926,000 after buying an additional 617,260 shares during the period. Finally, RTW Investments LP increased its stake in shares of GH Research by 6.5% during the fourth quarter. RTW Investments LP now owns 5,933,815 shares of the company’s stock valued at $75,359,000 after buying an additional 364,251 shares during the period. 56.90% of the stock is owned by hedge funds and other institutional investors.

GH Research Stock Performance

Shares of GHRS stock opened at $23.99 on Friday. GH Research has a fifty-two week low of $10.96 and a fifty-two week high of $24.66. The stock has a 50 day moving average price of $18.54 and a two-hundred day moving average price of $16.14. The company has a market capitalization of $1.65 billion, a P/E ratio of -26.08 and a beta of 1.27.

GH Research (NASDAQ:GHRS) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.04). As a group, equities analysts predict that GH Research will post -1.46 earnings per share for the current year.

About GH Research

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.