GH Research (NASDAQ:GHRS) Hits New 12-Month High – Here’s Why

GH Research PLC (NASDAQ:GHRS)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $26.35 and last traded at $26.2650, with a volume of 24293 shares. The stock had previously closed at $25.34.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Cantor Fitzgerald raised their price target on GH Research from $25.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Guggenheim set a $34.00 price objective on GH Research and gave the stock a “buy” rating in a report on Tuesday, March 10th. Weiss Ratings restated a “sell (d-)” rating on shares of GH Research in a research report on Tuesday, April 21st. Citizens Jmp lowered their target price on shares of GH Research from $42.00 to $39.00 and set a “market outperform” rating on the stock in a research note on Friday, May 15th. Finally, Needham & Company LLC lifted their target price on shares of GH Research from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, GH Research presently has a consensus rating of “Moderate Buy” and an average target price of $40.38.

GH Research Price Performance

The firm has a market cap of $1.94 billion, a P/E ratio of -30.67 and a beta of 1.31. The stock has a 50 day moving average of $21.71 and a 200 day moving average of $17.29.

GH Research (NASDAQ:GHRS) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.04). On average, research analysts predict that GH Research PLC will post -1.46 EPS for the current fiscal year.

Institutional Trading of GH Research

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. purchased a new stake in GH Research in the second quarter worth approximately $79,000. BNP Paribas Financial Markets raised its stake in shares of GH Research by 165.4% during the second quarter. BNP Paribas Financial Markets now owns 17,010 shares of the company’s stock worth $207,000 after acquiring an additional 10,600 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of GH Research by 63.6% during the second quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock worth $75,000 after acquiring an additional 2,400 shares in the last quarter. UBS Group AG lifted its holdings in shares of GH Research by 11.5% in the 3rd quarter. UBS Group AG now owns 511,464 shares of the company’s stock worth $7,314,000 after acquiring an additional 52,882 shares during the last quarter. Finally, Lynx1 Capital Management LP lifted its holdings in shares of GH Research by 27.5% in 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 last quarter. 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.