Brokerages Set GH Research PLC (NASDAQ:GHRS) PT at $40.38

GH Research PLC (NASDAQ:GHRS) has been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and nine have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $40.3750.

GHRS has been the topic of a number of research reports. Citigroup reissued an “outperform” rating on shares of GH Research in a report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GH Research in a research note on Friday, July 17th. HC Wainwright decreased their price objective on GH Research from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Zacks Research cut GH Research from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 15th. Finally, Citizens Jmp lowered their target price on GH Research from $42.00 to $39.00 and set a “market outperform” rating on the stock in a research note on Friday, May 15th.

Hedge Funds Weigh In On GH Research

Hedge funds and other institutional investors have recently bought and sold shares of the company. Lynx1 Capital Management LP boosted its holdings 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 valued at $122,997,000 after acquiring an additional 1,854,238 shares in the last quarter. Avoro Capital Advisors LLC acquired a new position in shares of GH Research during the fourth quarter worth about $22,860,000. Millennium Management LLC raised its holdings in GH Research by 324.1% during the third 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 in the last quarter. Troluce Capital Advisors LLC raised its holdings in GH Research by 165.4% during the first quarter. Troluce Capital Advisors LLC now owns 990,472 shares of the company’s stock worth $13,926,000 after purchasing an additional 617,260 shares in the last quarter. Finally, RTW Investments LP lifted its position in 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 during the period. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

GH Research Price Performance

Shares of NASDAQ:GHRS opened at $28.58 on Monday. GH Research has a 1-year low of $11.32 and a 1-year high of $31.00. The stock has a market cap of $1.96 billion, a P/E ratio of -31.06 and a beta of 1.28. The firm has a fifty day moving average price of $24.21 and a 200 day moving average price of $19.11.

GH Research (NASDAQ:GHRS) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.04). Sell-side analysts expect that GH Research will post -1.46 EPS for the current fiscal year.

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.