GH Research (NASDAQ:GHRS) Trading Up 7% – Still a Buy?

GH Research PLC (NASDAQ:GHRS)’s share price was up 7% during mid-day trading on Wednesday . The company traded as high as $11.28 and last traded at $11.34. Approximately 37,061 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 164,126 shares. The stock had previously closed at $10.60.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GHRS shares. Cantor Fitzgerald initiated coverage on shares of GH Research in a report on Thursday, February 13th. They issued an “overweight” rating and a $14.00 target price for the company. 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. Stifel Nicolaus lifted their price target on shares of GH Research from $18.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Royal Bank of Canada initiated coverage on shares of GH Research in a research report on Friday, March 7th. They set an “outperform” rating and a $31.00 price target on the stock. Finally, Guggenheim initiated coverage on shares of GH Research in a research report on Thursday, March 13th. They set a “buy” rating and a $32.00 price target on the stock. Seven equities research 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 target price of $30.86.

GH Research Price Performance

The firm has a market capitalization of $589.53 million, a price-to-earnings ratio of -14.40 and a beta of 0.94. The business’s 50-day moving average price is $11.19 and its 200 day moving average price is $9.16.

GH Research (NASDAQ:GHRS) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.06. As a group, sell-side analysts expect that GH Research PLC will post -0.8 earnings per share for the current year.

Institutional Trading of GH Research

Several institutional investors have recently added to or reduced their stakes in the business. RA Capital Management L.P. increased its stake in GH Research by 1.3% during the third quarter. RA Capital Management L.P. now owns 6,686,689 shares of the company’s stock valued at $44,734,000 after purchasing an additional 85,000 shares during the last quarter. Lynx1 Capital Management LP grew its position in shares of GH Research by 15.8% during the fourth quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company’s stock worth $34,013,000 after acquiring an additional 663,100 shares during the last quarter. Diadema Partners LP bought a new position in shares of GH Research during the fourth quarter worth about $711,000. Woodline Partners LP grew its position in shares of GH Research by 112.0% during the fourth quarter. Woodline Partners LP now owns 78,949 shares of the company’s stock worth $553,000 after acquiring an additional 41,711 shares during the last quarter. Finally, Geode Capital Management LLC grew its position 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 worth $508,000 after acquiring an additional 3,092 shares during the last quarter. Institutional investors own 56.90% of the company’s stock.

About GH Research

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).