GH Research PLC (NASDAQ:GHRS) Receives Average Recommendation of “Moderate Buy” from Brokerages

GH Research PLC (NASDAQ:GHRS) has received a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $45.00.

GHRS has been the topic of a number of recent analyst reports. Needham & Company LLC upped their price target on GH Research from $32.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wells Fargo & Company started coverage on GH Research in a research report on Monday, July 27th. They issued an “overweight” rating and a $44.00 price objective for the company. Cantor Fitzgerald boosted their target price on GH Research from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Wall Street Zen raised GH Research from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, New Street Research set a $65.00 price target on GH Research in a research note on Monday, August 10th.

GH Research Stock Performance

Shares of GH Research stock opened at $21.06 on Friday. The company has a market capitalization of $1.44 billion, a PE ratio of -21.06 and a beta of 1.32. The company has a 50-day simple moving average of $27.37 and a two-hundred day simple moving average of $23.67. GH Research has a one year low of $12.04 and a one year high of $31.44.

GH Research (NASDAQ:GHRS) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.06. On average, equities analysts predict that GH Research will post -1.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GH Research

Several hedge funds have recently modified their holdings of the stock. Avoro Capital Advisors LLC purchased a new stake in GH Research during the 4th quarter worth approximately $22,860,000. Troluce Capital Advisors LLC increased its position in shares of GH Research by 165.4% in the 1st quarter. Troluce Capital Advisors LLC now owns 990,472 shares of the company’s stock valued at $13,926,000 after acquiring an additional 617,260 shares during the period. Braidwell LP acquired a new stake in GH Research during the 2nd quarter worth about $5,571,000. CenterBook Partners LP lifted its position in GH Research by 70.6% during the 4th quarter. CenterBook Partners LP now owns 283,441 shares of the company’s stock worth $3,600,000 after acquiring an additional 117,288 shares during the period. Finally, BIT Capital GmbH acquired a new stake in GH Research during the 4th quarter worth about $635,000. Institutional investors and hedge funds own 56.90% of the company’s stock.

GH Research Company Profile

GH Research plc is a clinical-stage biopharmaceutical company focused on developing novel treatments for psychiatric and neurological disorders. The company’s research centers on mebufotenin, also known as 5-MeO-DMT, a psychedelic compound being evaluated through proprietary formulations and delivery methods designed to produce rapid-acting therapeutic effects.

GH Research’s lead investigational program, GH001, is an inhaled formulation of mebufotenin being studied for major depressive disorder, including treatment-resistant depression.