GH Research (NASDAQ:GHRS) Trading 4.9% Higher – Should You Buy?

Shares of GH Research PLC (NASDAQ:GHRS) were up 4.9% during trading on Thursday . The company traded as high as $13.21 and last traded at $12.66. Approximately 39,796 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 163,339 shares. The stock had previously closed at $12.06.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GHRS shares. Cantor Fitzgerald started coverage on shares of GH Research in a research note on Thursday, February 13th. They set an “overweight” rating and a $14.00 price target on the stock. Royal Bank of Canada began coverage on GH Research in a research report on Friday, March 7th. They issued an “outperform” rating and a $31.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $40.00 price target on shares of GH Research in a research report on Monday, January 27th. Guggenheim assumed coverage on GH Research in a report on Thursday, March 13th. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, Stifel Nicolaus upped their target price on GH Research from $18.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $30.86.

GH Research Stock Down 9.7 %

The stock has a market cap of $575.43 million, a PE ratio of -14.00 and a beta of 0.94. The business has a 50 day moving average price of $11.76 and a 200 day moving average price of $9.34.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in shares of GH Research by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 72,513 shares of the company’s stock valued at $508,000 after acquiring an additional 3,092 shares during the last quarter. AdvisorShares Investments LLC lifted its holdings in GH Research by 15.4% in the 4th quarter. AdvisorShares Investments LLC now owns 36,011 shares of the company’s stock valued at $252,000 after purchasing an additional 4,806 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in GH Research during the 4th quarter worth $44,000. Northern Trust Corp raised its position in shares of GH Research by 26.8% in the fourth quarter. Northern Trust Corp now owns 40,834 shares of the company’s stock valued at $286,000 after buying an additional 8,641 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of GH Research in the fourth quarter valued at about $117,000. 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).