GH Research (NASDAQ:GHRS) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of GH Research (NASDAQ:GHRS) from a hold rating to a strong sell rating in a research note published on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on GHRS. Cantor Fitzgerald increased their price objective on shares of GH Research from $25.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Citizens Jmp dropped their target price on shares of GH Research from $42.00 to $39.00 and set a “market outperform” rating on the stock in a report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GH Research in a research report on Tuesday, April 21st. HC Wainwright cut their price target on shares of GH Research from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Finally, Citigroup reiterated an “outperform” rating on shares of GH Research in a report on Friday, May 15th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, GH Research has an average rating of “Moderate Buy” and an average price target of $40.38.

GH Research Price Performance

Shares of GHRS stock opened at $28.71 on Wednesday. The stock has a market capitalization of $1.97 billion, a PE ratio of -31.21 and a beta of 1.28. The business’s 50 day simple moving average is $23.81 and its 200 day simple moving average is $18.74. GH Research has a one year low of $11.32 and a one year high of $31.00.

GH Research (NASDAQ:GHRS) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.04). As a group, research analysts expect that GH Research will post -1.46 earnings per share for the current year.

Institutional Trading of GH Research

Several large investors have recently modified their holdings of the stock. Avoro Capital Advisors LLC bought a new stake in GH Research in the fourth quarter valued at $22,860,000. CenterBook Partners LP boosted its position in shares of GH Research by 70.6% during the 4th quarter. CenterBook Partners LP now owns 283,441 shares of the company’s stock worth $3,600,000 after purchasing an additional 117,288 shares in the last quarter. BIT Capital GmbH bought a new position in shares of GH Research during the 4th quarter worth about $635,000. Troluce Capital Advisors LLC grew its stake in shares of GH Research by 165.4% in the 1st quarter. Troluce Capital Advisors LLC now owns 990,472 shares of the company’s stock valued at $13,926,000 after buying an additional 617,260 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of GH Research in the 1st quarter valued at about $290,000. Institutional investors and hedge funds own 56.90% of the company’s stock.

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.