GH Research (NASDAQ:GHRS) Shares Gap Up – Here’s Why

Shares of GH Research PLC (NASDAQ:GHRS) gapped up before the market opened on Thursday . The stock had previously closed at $11.35, but opened at $11.75. GH Research shares last traded at $11.14, with a volume of 18,497 shares.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GHRS shares. HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of GH Research in a research report on Monday, January 27th. Royal Bank of Canada assumed coverage on shares of GH Research in a report on Friday, March 7th. They issued an “outperform” rating and a $31.00 price objective on the stock. Cantor Fitzgerald assumed coverage on shares of GH Research in a report on Thursday, February 13th. They issued an “overweight” rating and a $14.00 price objective on the stock. Stifel Nicolaus increased 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. Finally, Guggenheim began coverage on shares of GH Research in a research note on Thursday. They issued a “buy” rating and a $32.00 target price for the company. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $30.86.

GH Research Price Performance

The firm has a market cap of $572.31 million, a P/E ratio of -13.92 and a beta of 0.94. The business’s 50-day moving average is $11.13 and its two-hundred day moving average is $9.19.

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

Institutional Trading of GH Research

A number of large investors have recently added to or reduced their stakes in GHRS. Lynx1 Capital Management LP lifted its stake in GH Research by 15.8% in the fourth quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company’s stock valued at $34,013,000 after acquiring an additional 663,100 shares during the last quarter. Diadema Partners LP acquired a new stake in GH Research in the fourth quarter valued at $711,000. 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 valued at $44,734,000 after acquiring an additional 85,000 shares during the last quarter. Woodline Partners LP lifted its stake in GH Research by 112.0% in the fourth 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, Millennium Management LLC acquired a new stake in GH Research in the fourth quarter valued at $145,000. Institutional investors and hedge funds 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).