GH Research (NASDAQ:GHRS) Reaches New 12-Month High – Here’s Why

GH Research PLC (NASDAQ:GHRS) reached a new 52-week high on Monday . The stock traded as high as $21.01 and last traded at $24.0760, with a volume of 47936 shares trading hands. The stock had previously closed at $18.34.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Needham & Company LLC raised their price objective on GH Research from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Citizens Jmp boosted their price target on GH Research from $39.00 to $42.00 and gave the stock a “market outperform” rating in a report on Friday, March 6th. TD Cowen reissued a “buy” rating on shares of GH Research in a report on Monday, January 5th. Wolfe Research set a $39.00 price target on GH Research in a report on Tuesday, January 6th. Finally, Citigroup reissued a “market outperform” rating on shares of GH Research in a report on Tuesday, January 6th. Nine 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $40.13.

GH Research Price Performance

The stock has a 50-day moving average price of $15.22 and a 200 day moving average price of $14.60. The firm has a market cap of $1.33 billion, a PE ratio of -26.81 and a beta of 1.00.

GH Research (NASDAQ:GHRS) last posted its quarterly earnings results on Friday, March 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.06. As a group, equities research analysts anticipate that GH Research PLC will post -0.8 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. HighVista Strategies LLC lifted its stake in shares of GH Research by 363.0% during the third quarter. HighVista Strategies LLC now owns 241,894 shares of the company’s stock worth $3,459,000 after purchasing an additional 189,647 shares in the last quarter. CenterBook Partners LP acquired a new position in shares of GH Research during the third quarter worth about $2,376,000. AdvisorShares Investments LLC lifted its stake in shares of GH Research by 41.1% during the third quarter. AdvisorShares Investments LLC now owns 53,991 shares of the company’s stock worth $772,000 after purchasing an additional 15,735 shares in the last quarter. Barclays PLC lifted its stake in shares of GH Research by 63.4% during the fourth quarter. Barclays PLC now owns 2,118 shares of the company’s stock worth $27,000 after purchasing an additional 822 shares in the last quarter. Finally, Avoro Capital Advisors LLC acquired a new position in shares of GH Research during the fourth quarter worth about $22,860,000. Institutional investors and hedge funds own 56.90% of the company’s stock.

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.