GH Research (NASDAQ:GHRS) Stock Jumps 5.7% – What’s Next?

Shares of GH Research PLC (NASDAQ:GHRS) rose 5.7% during mid-day trading on Tuesday. The company traded as high as $24.90 and last traded at $24.75. 899,364 shares were traded during trading, an increase of 200% from the average session volume of 299,756 shares. The stock had previously closed at $23.42.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GHRS shares. Wells Fargo & Company initiated coverage on GH Research in a report on Monday, July 27th. They set an “overweight” rating and a $44.00 price target for the company. HC Wainwright reiterated a “buy” rating on shares of GH Research in a report on Monday, August 10th. Guggenheim increased their price objective on shares of GH Research from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, August 7th. New Street Research set a $65.00 target price on GH Research in a research note on Monday, August 10th. Finally, Needham & Company LLC boosted their price objective on GH Research from $32.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

GH Research Stock Up 4.7%

The company has a market capitalization of $1.68 billion, a PE ratio of -24.52 and a beta of 1.27. The company has a 50-day moving average price of $28.10 and a two-hundred day moving average price of $23.30.

GH Research (NASDAQ:GHRS) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.06. As a group, equities analysts anticipate that GH Research PLC will post -1.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GHRS. Avoro Capital Advisors LLC bought a new position in shares of GH Research during the fourth quarter valued at $22,860,000. Troluce Capital Advisors LLC raised its position in GH Research by 165.4% in the first quarter. Troluce Capital Advisors LLC now owns 990,472 shares of the company’s stock worth $13,926,000 after acquiring an additional 617,260 shares during the period. Braidwell LP purchased a new position in GH Research during the second quarter valued at $5,571,000. CenterBook Partners LP grew its stake in shares of GH Research by 70.6% during the 4th quarter. CenterBook Partners LP now owns 283,441 shares of the company’s stock valued at $3,600,000 after acquiring an additional 117,288 shares during the period. Finally, BIT Capital GmbH bought a new position in shares of GH Research in the fourth quarter worth approximately $635,000. Hedge funds and other institutional investors own 56.90% of the company’s stock.

About GH Research

GH Research plc is a clinical-stage biopharmaceutical company headquartered in Dublin, Ireland. Founded in 2018, the company focuses on developing novel therapies for psychiatric and neurological disorders, with an emphasis on treatments that may offer rapid effects.

Its lead program, GH001, is an inhaled formulation of mebufotenin, also known as 5-MeO-DMT, being studied for treatment-resistant depression. GH Research is also developing additional formulations and delivery approaches based on mebufotenin, including the GH002 program.