GH Research (NASDAQ:GHRS) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

GH Research (NASDAQ:GHRS) released its quarterly earnings data on Thursday. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.06, Zacks reports.

GH Research Stock Performance

NASDAQ GHRS traded down $0.37 on Friday, reaching $30.27. The company’s stock had a trading volume of 337,156 shares, compared to its average volume of 318,768. GH Research has a twelve month low of $11.32 and a twelve month high of $31.44. The stock has a market cap of $2.08 billion, a PE ratio of -30.27 and a beta of 1.29. The firm’s 50 day moving average is $25.70 and its two-hundred day moving average is $20.16.

Analyst Ratings Changes

Several research analysts have recently issued reports on GHRS shares. Wall Street Zen raised GH Research from a “sell” rating to a “hold” rating in a research note on Saturday. HC Wainwright reduced their price objective on shares of GH Research from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Citizens Jmp decreased their target price on shares of GH Research from $42.00 to $39.00 and set a “market outperform” rating for the company in a research report on Friday, May 15th. Cantor Fitzgerald raised their target price on shares of GH Research from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Needham & Company LLC boosted their price target on shares of GH Research from $32.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.78.

Hedge Funds Weigh In On GH Research

Hedge funds have recently modified their holdings of the stock. Barclays PLC raised its holdings in shares of GH Research by 63.4% during the 4th quarter. Barclays PLC now owns 2,118 shares of the company’s stock valued at $27,000 after purchasing an additional 822 shares in the last quarter. Osaic Holdings Inc. increased its position in GH Research by 63.6% during the second quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock worth $75,000 after buying an additional 2,400 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in GH Research during the second quarter worth $79,000. BNP Paribas Financial Markets raised its holdings in GH Research by 165.4% during the second quarter. BNP Paribas Financial Markets now owns 17,010 shares of the company’s stock valued at $207,000 after buying an additional 10,600 shares in the last quarter. Finally, Virtus Investment Advisers LLC lifted its position in shares of GH Research by 130.1% in the fourth quarter. Virtus Investment Advisers LLC now owns 20,408 shares of the company’s stock worth $259,000 after buying an additional 11,539 shares during the last quarter. 56.90% of the stock is currently owned by institutional investors and hedge funds.

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.