Royal Bank Of Canada Forecasts Strong Price Appreciation for GH Research (NASDAQ:GHRS) Stock

GH Research (NASDAQ:GHRS) had its price target hoisted by Royal Bank Of Canada from $33.00 to $40.00 in a report released on Friday, Marketbeat.com reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 139.09% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Canaccord Genuity Group raised their price objective on shares of GH Research from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. HC Wainwright decreased their price target on shares of GH Research from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Monday, November 10th. TD Cowen reiterated a “buy” rating on shares of GH Research in a research note on Monday, January 5th. Wolfe Research set a $39.00 target price on GH Research in a research report on Tuesday, January 6th. Finally, Needham & Company LLC set a $29.00 target price on GH Research in a research note on Tuesday, January 6th. Ten equities 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.11.

GH Research Trading Down 0.1%

Shares of GH Research stock opened at $16.73 on Friday. The business’s fifty day simple moving average is $14.44 and its 200 day simple moving average is $14.02. GH Research has a 12 month low of $7.98 and a 12 month high of $20.50. The firm has a market capitalization of $870.46 million, a P/E ratio of -22.61 and a beta of 0.98.

GH Research (NASDAQ:GHRS) last announced its earnings results on Thursday, November 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.23). Analysts predict that GH Research will post -0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On GH Research

Large investors have recently made changes to their positions in the stock. Osaic Holdings Inc. grew its position in shares of GH Research by 63.6% in the second quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock valued at $75,000 after purchasing an additional 2,400 shares in the last quarter. JPMorgan Chase & Co. bought a new position in GH Research in the 2nd quarter worth about $79,000. Virtus Investment Advisers LLC purchased a new position in GH Research during the 2nd quarter valued at about $89,000. BNP Paribas Financial Markets increased its position in shares of GH Research by 165.4% during the second quarter. BNP Paribas Financial Markets now owns 17,010 shares of the company’s stock valued at $207,000 after buying an additional 10,600 shares during the period. Finally, Man Group plc purchased a new stake in shares of GH Research in the third quarter worth about $315,000. 56.90% of the stock is owned by institutional investors.

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.