GH Research (NASDAQ:GHRS) Trading Up 7% – Still a Buy?

GH Research PLC (NASDAQ:GHRS)’s share price was up 7% during trading on Wednesday . The stock traded as high as $11.28 and last traded at $11.34. Approximately 37,061 shares changed hands during trading, a decline of 77% from the average daily volume of 164,126 shares. The stock had previously closed at $10.60.

Analyst Ratings Changes

Several equities analysts have recently commented on GHRS shares. Stifel Nicolaus upped their price target on shares of GH Research from $18.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Cantor Fitzgerald initiated coverage on shares of GH Research in a research report on Thursday, February 13th. They issued an “overweight” rating and a $14.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $40.00 target price on shares of GH Research in a research report on Monday, January 27th. Guggenheim initiated coverage on shares of GH Research in a research report on Thursday, March 13th. They issued a “buy” rating and a $32.00 target price for the company. Finally, Royal Bank of Canada initiated coverage on shares of GH Research in a research report on Friday, March 7th. They issued an “outperform” rating and a $31.00 target price for the company. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, GH Research has a consensus rating of “Buy” and an average price target of $30.86.

GH Research Stock Performance

The company has a market capitalization of $589.53 million, a price-to-earnings ratio of -14.40 and a beta of 0.94. The stock’s fifty day simple moving average is $11.19 and its two-hundred day simple moving average is $9.16.

GH Research (NASDAQ:GHRS) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. On average, equities 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 bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in GH Research during the fourth quarter valued at about $44,000. Two Sigma Investments LP purchased a new stake in GH Research during the fourth quarter valued at about $117,000. Millennium Management LLC purchased a new stake in GH Research during the fourth quarter valued at about $145,000. AdvisorShares Investments LLC lifted its stake in GH Research by 15.4% during the fourth quarter. AdvisorShares Investments LLC now owns 36,011 shares of the company’s stock valued at $252,000 after buying an additional 4,806 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in GH Research by 26.8% during the fourth quarter. Northern Trust Corp now owns 40,834 shares of the company’s stock valued at $286,000 after buying an additional 8,641 shares in 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).