GH Research (NASDAQ:GHRS) Stock Rating Upgraded by Zacks Research

GH Research (NASDAQ:GHRS) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of GH Research in a research note on Friday, July 17th. Guggenheim raised their target price on shares of GH Research from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Wall Street Zen upgraded shares of GH Research from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. New Street Research set a $65.00 price target on shares of GH Research in a research report on Monday. Finally, Needham & Company LLC increased their price target on GH Research from $32.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.00.

GH Research Stock Performance

Shares of NASDAQ:GHRS opened at $29.49 on Thursday. The stock has a 50-day simple moving average of $26.25 and a 200-day simple moving average of $20.61. The stock has a market capitalization of $2.02 billion, a P/E ratio of -29.49 and a beta of 1.29. GH Research has a 1 year low of $11.83 and a 1 year high of $31.44.

GH Research (NASDAQ:GHRS) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.06. Analysts predict that GH Research will post -1.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new stake in GH Research during the 2nd quarter valued at $79,000. BNP Paribas Financial Markets lifted its holdings in GH Research by 165.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 17,010 shares of the company’s stock worth $207,000 after buying an additional 10,600 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in GH Research by 63.6% in the 2nd quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock worth $75,000 after buying an additional 2,400 shares in the last quarter. UBS Group AG boosted its position in GH Research by 11.5% in the 3rd quarter. UBS Group AG now owns 511,464 shares of the company’s stock valued at $7,314,000 after buying an additional 52,882 shares during the last quarter. Finally, Lynx1 Capital Management LP boosted its position in GH Research by 27.5% in the 3rd quarter. Lynx1 Capital Management LP now owns 8,601,189 shares of the company’s stock valued at $122,997,000 after buying an additional 1,854,238 shares during the last quarter. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

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.