GH Research (NASDAQ:GHRS) Shares Up 6.7% – Time to Buy?

Shares of GH Research PLC (NASDAQ:GHRS) were up 6.7% on Monday . The stock traded as high as $10.92 and last traded at $11.20. Approximately 289,391 shares changed hands during mid-day trading, an increase of 78% from the average daily volume of 162,579 shares. The stock had previously closed at $10.50.

Analyst Ratings Changes

GHRS has been the topic of several recent research reports. Canaccord Genuity Group reduced their price target on GH Research from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. Stifel Nicolaus upped their price objective on shares of GH Research from $18.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Cantor Fitzgerald assumed coverage on GH Research in a research report on Thursday, February 13th. They set an “overweight” rating and a $14.00 price objective on the stock. Royal Bank of Canada started coverage on shares of GH Research in a report on Friday. They set an “outperform” rating and a $31.00 target price on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $40.00 target price on shares of GH Research in a report on Monday, January 27th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, GH Research has an average rating of “Buy” and an average price target of $30.67.

GH Research Stock Performance

The business’s 50-day moving average is $10.80 and its 200 day moving average is $9.17. The company has a market cap of $582.71 million, a PE ratio of -14.18 and a beta of 0.94.

GH Research (NASDAQ:GHRS) last announced its earnings results on Thursday, February 27th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. Equities research analysts anticipate that GH Research PLC will post -0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On GH Research

Several institutional investors have recently bought and sold shares of GHRS. RA Capital Management L.P. lifted its stake in GH Research by 1.3% in the third quarter. RA Capital Management L.P. now owns 6,686,689 shares of the company’s stock worth $44,734,000 after purchasing an additional 85,000 shares during the last quarter. Lynx1 Capital Management LP lifted its stake in shares of GH Research by 15.8% during the 4th quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company’s stock worth $34,013,000 after acquiring an additional 663,100 shares during the last quarter. Diadema Partners LP purchased a new position in GH Research during the 4th quarter valued at $711,000. Woodline Partners LP grew its position in GH Research by 112.0% in the 4th quarter. Woodline Partners LP now owns 78,949 shares of the company’s stock valued at $553,000 after acquiring an additional 41,711 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in GH Research by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 72,513 shares of the company’s stock worth $508,000 after purchasing an additional 3,092 shares during the period. Institutional investors own 56.90% of the company’s stock.

GH Research Company Profile

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).