GH Research (NASDAQ:GHRS) Trading Up 4.9% – Time to Buy?

GH Research PLC (NASDAQ:GHRS) rose 4.9% during mid-day trading on Thursday . The stock traded as high as $13.21 and last traded at $12.66. Approximately 39,796 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 163,339 shares. The stock had previously closed at $12.06.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Royal Bank of Canada started coverage on GH Research in a report on Friday, March 7th. They issued an “outperform” rating and a $31.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of GH Research in a research note on Monday, January 27th. Stifel Nicolaus boosted their price objective 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. Guggenheim began coverage on shares of GH Research in a research note on Thursday, March 13th. They set a “buy” rating and a $32.00 target price on the stock. Finally, Cantor Fitzgerald initiated coverage on shares of GH Research in a research note on Thursday, February 13th. They issued an “overweight” rating and a $14.00 price target for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $30.86.

GH Research Stock Up 4.9 %

The stock’s fifty day simple moving average is $11.64 and its two-hundred day simple moving average is $9.30. The firm has a market cap of $658.21 million, a PE ratio of -16.03 and a beta of 0.94.

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

Institutional Trading of GH Research

Several institutional investors have recently bought and sold shares of the company. RA Capital Management L.P. grew its holdings in shares of GH Research by 1.3% during the third quarter. RA Capital Management L.P. now owns 6,686,689 shares of the company’s stock valued at $44,734,000 after buying an additional 85,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in GH Research by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 72,513 shares of the company’s stock valued at $508,000 after purchasing an additional 3,092 shares during the last quarter. Diadema Partners LP bought a new stake in shares of GH Research in the 4th quarter worth $711,000. Lynx1 Capital Management LP raised its stake in shares of GH Research by 15.8% in the fourth 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 last quarter. Finally, Northern Trust Corp lifted its holdings in shares of 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 purchasing 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).