GH Research (NASDAQ:GHRS) Trading 5.9% Higher – Still a Buy?

GH Research PLC (NASDAQ:GHRS) traded up 5.9% during trading on Tuesday . The company traded as high as $9.67 and last traded at $9.75. 204,153 shares traded hands during trading, an increase of 30% from the average session volume of 156,669 shares. The stock had previously closed at $9.21.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group lowered their target price 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. HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of GH Research in a research report on Monday, January 27th. Stifel Nicolaus increased their target price 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. Finally, Cantor Fitzgerald assumed coverage on shares of GH Research in a research report on Thursday, February 13th. They set an “overweight” rating and a $14.00 target price for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $30.60.

GH Research Stock Performance

The company’s 50-day moving average price is $10.55 and its two-hundred day moving average price is $9.19. The stock has a market cap of $488.54 million, a PE ratio of -11.89 and a beta of 0.93.

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

Institutional Trading of GH Research

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lynx1 Capital Management LP raised its position in GH Research by 15.8% in the 4th quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company’s stock worth $34,013,000 after purchasing an additional 663,100 shares during the period. Diadema Partners LP purchased a new position in GH Research in the 4th quarter worth $711,000. RA Capital Management L.P. raised its position in GH Research by 1.3% in the 3rd quarter. RA Capital Management L.P. now owns 6,686,689 shares of the company’s stock worth $44,734,000 after purchasing an additional 85,000 shares during the period. Woodline Partners LP raised its position in GH Research by 112.0% in the 4th quarter. Woodline Partners LP now owns 78,949 shares of the company’s stock worth $553,000 after purchasing an additional 41,711 shares during the period. Finally, Millennium Management LLC purchased a new position in GH Research in the 4th quarter worth $145,000. Hedge funds and other 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).