GH Research (NASDAQ:GHRS) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

GH Research (NASDAQ:GHRS) released its quarterly earnings data on Thursday. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.04), FiscalAI reports.

GH Research Stock Performance

GHRS traded down $0.02 during mid-day trading on Thursday, reaching $21.87. 125,495 shares of the stock were exchanged, compared to its average volume of 319,302. The stock has a market capitalization of $1.36 billion, a PE ratio of -27.45 and a beta of 1.27. The company has a 50 day moving average price of $16.89 and a two-hundred day moving average price of $15.43. GH Research has a 1 year low of $9.52 and a 1 year high of $24.66.

Analysts Set New Price Targets

A number of analysts have weighed in on GHRS shares. HC Wainwright increased their target price on shares of GH Research from $35.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Royal Bank Of Canada lifted their price target on shares of GH Research from $33.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Guggenheim set a $34.00 price target on shares of GH Research and gave the company a “buy” rating in a research report on Tuesday, March 10th. Needham & Company LLC lifted their price target 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. Finally, Citizens Jmp lifted their price target on shares of GH Research from $39.00 to $42.00 and gave the company a “market outperform” 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 assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.13.

Hedge Funds Weigh In On GH Research

A number of hedge funds have recently bought and sold shares of GHRS. Lynx1 Capital Management LP boosted its stake 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 buying an additional 1,854,238 shares during the last quarter. RTW Investments LP boosted its stake in shares of GH Research by 6.5% in the 4th quarter. RTW Investments LP now owns 5,933,815 shares of the company’s stock worth $75,359,000 after buying an additional 364,251 shares during the last quarter. Millennium Management LLC boosted its stake in shares of GH Research by 324.1% in the 3rd quarter. Millennium Management LLC now owns 863,602 shares of the company’s stock worth $12,350,000 after buying an additional 659,957 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of GH Research by 3.2% in the 3rd quarter. Verition Fund Management LLC now owns 678,489 shares of the company’s stock worth $9,702,000 after buying an additional 21,108 shares during the last quarter. Finally, UBS Group AG lifted its stake in GH Research by 11.5% in the third quarter. UBS Group AG now owns 511,464 shares of the company’s stock valued at $7,314,000 after purchasing an additional 52,882 shares during the last quarter. 56.90% of the stock is owned by hedge funds and other institutional investors.

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.