HC Wainwright Forecasts Strong Price Appreciation for GH Research (NASDAQ:GHRS) Stock

GH Research (NASDAQ:GHRS) had its price objective hoisted by research analysts at HC Wainwright from $35.00 to $70.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 357.52% from the company’s current price.

GHRS has been the topic of several other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GH Research in a report on Thursday, January 22nd. Wall Street Zen cut GH Research from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Canaccord Genuity Group raised their target price on GH Research from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Royal Bank Of Canada lifted their price target on GH Research from $33.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Finally, Wolfe Research set a $39.00 price objective on GH Research in a research report on Tuesday, January 6th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.75.

GH Research Trading Down 4.4%

GHRS opened at $15.30 on Monday. GH Research has a 12-month low of $7.98 and a 12-month high of $19.51. The firm has a 50 day moving average of $15.28 and a two-hundred day moving average of $14.19. The firm has a market capitalization of $796.06 million, a PE ratio of -20.68 and a beta of 1.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Lynx1 Capital Management LP lifted its stake in shares of GH Research by 27.5% in the third quarter. Lynx1 Capital Management LP now owns 8,601,189 shares of the company’s stock worth $122,997,000 after buying an additional 1,854,238 shares in the last quarter. Avoro Capital Advisors LLC purchased a new position in GH Research in the 4th quarter worth approximately $22,860,000. Millennium Management LLC boosted its holdings in shares of GH Research by 324.1% during the 3rd quarter. Millennium Management LLC now owns 863,602 shares of the company’s stock worth $12,350,000 after purchasing an additional 659,957 shares during the last quarter. RTW Investments LP grew its position in shares of GH Research by 6.5% in the fourth quarter. RTW Investments LP now owns 5,933,815 shares of the company’s stock valued at $75,359,000 after purchasing an additional 364,251 shares in the last quarter. Finally, Troluce Capital Advisors LLC increased its holdings in shares of GH Research by 698.8% in the fourth quarter. Troluce Capital Advisors LLC now owns 373,212 shares of the company’s stock valued at $4,740,000 after purchasing an additional 326,490 shares during the last quarter. 56.90% of the stock is owned by institutional investors and hedge funds.

GH Research Company Profile

GH Research Holdings Inc is a clinical-stage biotechnology company dedicated to the development of novel treatments for neuropsychiatric disorders through the application of psychedelic-inspired compounds. Headquartered in Dublin, Ireland, the company focuses on harnessing the unique pharmacology of 5-methoxy-N-dimethyltryptamine (5-MeO-DMT) and related molecules to address high unmet medical needs in mental health.

The firm’s lead program, GH001, is an inhaled formulation of 5-MeO-DMT that has completed early-stage clinical trials assessing safety, tolerability and preliminary efficacy in treatment-resistant depression.