GH Research (NASDAQ:GHRS) Trading Up 7% – Time to Buy?

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

Analyst Ratings Changes

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

GH Research Price Performance

The firm has a market capitalization of $650.35 million, a PE ratio of -15.82 and a beta of 0.94. The stock’s 50-day moving average price is $11.31 and its 200 day moving average price is $9.20.

GH Research (NASDAQ:GHRS) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates 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.

Hedge Funds Weigh In On GH Research

Several institutional investors and hedge funds have recently bought and sold shares of the company. Woodline Partners LP grew its holdings in GH Research by 112.0% in the fourth 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 last quarter. Two Sigma Investments LP purchased a new position in GH Research in the fourth quarter worth $117,000. Millennium Management LLC purchased a new position in GH Research in the fourth quarter worth $145,000. BNP Paribas Financial Markets purchased a new position in GH Research in the fourth quarter worth $44,000. Finally, AdvisorShares Investments LLC grew its holdings in shares of 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 during the last quarter. 56.90% of the stock is owned by hedge funds and other institutional investors.

GH Research Company Profile

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).