GH Research (NASDAQ:GHRS) Trading 6.7% Higher – Here’s What Happened

GH Research PLC (NASDAQ:GHRS) was up 6.7% on Monday . The stock traded as high as $10.92 and last traded at $11.20. Approximately 289,391 shares were traded during trading, an increase of 78% from the average daily volume of 162,579 shares. The stock had previously closed at $10.50.

Analyst Ratings Changes

GHRS has been the topic of a number of research reports. Cantor Fitzgerald began coverage on GH Research in a research note on Thursday, February 13th. They issued an “overweight” rating and a $14.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of GH Research in a report on Monday, January 27th. Canaccord Genuity Group decreased their price objective on GH Research from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. 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 objective on the stock. Finally, Stifel Nicolaus raised their price target on GH Research from $18.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $30.67.

GH Research Price Performance

The stock has a market cap of $590.52 million, a P/E ratio of -14.37 and a beta of 0.94. The stock’s 50-day moving average is $10.95 and its two-hundred day moving average is $9.17.

GH Research (NASDAQ:GHRS) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.06. On average, analysts anticipate that GH Research PLC will post -0.8 EPS for the current fiscal year.

Institutional Trading of GH Research

Hedge funds have recently modified their holdings of the company. Woodline Partners LP raised its stake in GH Research by 112.0% during the fourth quarter. Woodline Partners LP now owns 78,949 shares of the company’s stock valued at $553,000 after purchasing an additional 41,711 shares in the last quarter. Two Sigma Investments LP purchased a new position in shares of GH Research in the 4th quarter worth $117,000. Millennium Management LLC bought a new stake in shares of GH Research in the 4th quarter worth about $145,000. BNP Paribas Financial Markets purchased a new stake in shares of GH Research during the 4th quarter valued at about $44,000. Finally, AdvisorShares Investments LLC lifted its holdings in shares of 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 acquiring an additional 4,806 shares during the last quarter. 56.90% of the stock is owned by hedge funds and other institutional investors.

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).