GH Research (NASDAQ:GHRS) Sees Large Volume Increase – Should You Buy?

GH Research PLC (NASDAQ:GHRS) shares saw unusually-strong trading volume on Wednesday . Approximately 141,029 shares changed hands during mid-day trading, a decline of 15% from the previous session’s volume of 165,108 shares.The stock last traded at $10.61 and had previously closed at $10.76.

Wall Street Analyst Weigh In

GHRS has been the topic of several research analyst reports. Royal Bank of Canada assumed coverage on shares of GH Research in a report on Friday, March 7th. They set an “outperform” rating and a $31.00 price target on the stock. Guggenheim initiated coverage on GH Research in a research note on Thursday, March 13th. They issued a “buy” rating and a $32.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $40.00 price target on shares of GH Research in a research note on Monday, January 27th. Cantor Fitzgerald assumed coverage on GH Research in a research note on Thursday, February 13th. They issued an “overweight” rating and a $14.00 price target for the company. Finally, Stifel Nicolaus increased their price objective on GH Research from $18.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, GH Research currently has a consensus rating of “Buy” and an average target price of $30.86.

GH Research Trading Down 0.1 %

The stock has a fifty day moving average price of $11.84 and a 200 day moving average price of $9.39. The firm has a market cap of $559.30 million, a price-to-earnings ratio of -13.61 and a beta of 0.94.

GH Research (NASDAQ:GHRS) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.06. On average, sell-side analysts forecast that GH Research PLC will post -0.8 EPS for the current year.

Institutional Investors Weigh In On GH Research

A number of hedge funds have recently bought and sold shares of GHRS. BNP Paribas Financial Markets acquired a new position in shares of GH Research during the 4th quarter worth about $44,000. Two Sigma Investments LP acquired a new position in shares of GH Research during the fourth quarter worth approximately $117,000. Millennium Management LLC bought a new stake in shares of GH Research in the fourth quarter valued at approximately $145,000. AdvisorShares Investments LLC grew its stake in shares of GH Research by 15.4% in the fourth quarter. AdvisorShares Investments LLC now owns 36,011 shares of the company’s stock worth $252,000 after acquiring an additional 4,806 shares during the last quarter. Finally, Northern Trust Corp increased its position in GH Research by 26.8% during the fourth quarter. Northern Trust Corp now owns 40,834 shares of the company’s stock worth $286,000 after acquiring an additional 8,641 shares during the period. 56.90% of the stock is currently owned by institutional investors.

About GH Research

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).