GH Research (NASDAQ:GHRS) Trading 5.8% Higher – Here’s Why

GH Research PLC (NASDAQ:GHRS) shares traded up 5.8% during mid-day trading on Friday . The company traded as high as $11.37 and last traded at $11.32. 9,433 shares were traded during mid-day trading, a decline of 98% from the average session volume of 385,399 shares. The stock had previously closed at $10.70.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Cantor Fitzgerald raised shares of GH Research to a “strong-buy” rating in a report on Tuesday, May 13th. Royal Bank of Canada assumed coverage on shares of GH Research in a report on Friday, March 7th. They issued an “outperform” rating and a $31.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $40.00 price objective on shares of GH Research in a report on Friday, May 9th. Stifel Nicolaus raised their target price on shares of GH Research from $18.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Guggenheim decreased their target price on shares of GH Research from $32.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GH Research has an average rating of “Buy” and a consensus price target of $30.43.

GH Research Trading Up 2.6%

The company has a market cap of $571.27 million, a P/E ratio of -13.90 and a beta of 0.86. The business’s 50 day simple moving average is $10.28 and its 200 day simple moving average is $9.94.

GH Research (NASDAQ:GHRS) last released its earnings results on Thursday, May 8th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.42. Sell-side analysts anticipate that GH Research PLC will post -0.8 EPS for the current year.

Institutional Investors Weigh In On GH Research

Several institutional investors and hedge funds have recently modified their holdings of the stock. RA Capital Management L.P. raised its position in shares of GH Research by 3.9% during the first quarter. RA Capital Management L.P. now owns 6,944,648 shares of the company’s stock valued at $76,599,000 after buying an additional 257,959 shares during the last quarter. Lynx1 Capital Management LP raised its position in shares of GH Research by 15.8% during the fourth quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company’s stock valued at $34,013,000 after buying an additional 663,100 shares during the last quarter. Cormorant Asset Management LP raised its position in shares of GH Research by 238.8% during the first quarter. Cormorant Asset Management LP now owns 2,009,482 shares of the company’s stock valued at $22,165,000 after buying an additional 1,416,439 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of GH Research during the first quarter valued at approximately $8,272,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of GH Research during the first quarter valued at approximately $5,018,000. 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).