GH Research (NASDAQ:GHRS) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

GH Research (NASDAQ:GHRS) had its price target lifted by stock analysts at Royal Bank Of Canada from $33.00 to $40.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 142.06% from the company’s previous close.

Several other analysts have also recently issued reports on GHRS. Weiss Ratings restated a “sell (d-)” rating on shares of GH Research in a research report on Wednesday, October 8th. TD Cowen reaffirmed a “buy” rating on shares of GH Research in a research note on Monday, January 5th. Wall Street Zen downgraded shares of GH Research from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Wolfe Research set a $39.00 target price on GH Research in a research note on Tuesday, January 6th. Finally, HC Wainwright dropped their price objective on GH Research from $40.00 to $35.00 and set a “buy” rating for the company in a report on Monday, November 10th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.11.

GH Research Price Performance

Shares of GHRS stock traded down $0.22 during mid-day trading on Friday, hitting $16.53. The company had a trading volume of 19,012 shares, compared to its average volume of 849,367. The stock’s 50 day moving average price is $14.38 and its 200-day moving average price is $14.01. GH Research has a 52-week low of $7.98 and a 52-week high of $20.50. The company has a market capitalization of $859.80 million, a P/E ratio of -22.24 and a beta of 0.98.

GH Research (NASDAQ:GHRS) last issued its earnings results on Thursday, November 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.23). On average, equities research analysts expect that GH Research will post -0.8 earnings per share for the current year.

Hedge Funds Weigh In On GH Research

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. grew its holdings in shares of GH Research by 63.6% during the second quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock valued at $75,000 after buying an additional 2,400 shares during the last quarter. AdvisorShares Investments LLC lifted its position in GH Research by 15.0% during the 2nd quarter. AdvisorShares Investments LLC now owns 38,256 shares of the company’s stock worth $466,000 after acquiring an additional 5,000 shares during the period. JPMorgan Chase & Co. purchased a new stake in GH Research during the 2nd quarter valued at about $79,000. Virtus Investment Advisers LLC acquired a new position in shares of GH Research in the second quarter valued at about $89,000. Finally, BNP Paribas Financial Markets raised its stake in shares of GH Research by 165.4% in the second quarter. BNP Paribas Financial Markets now owns 17,010 shares of the company’s stock worth $207,000 after purchasing an additional 10,600 shares during the last quarter. Hedge funds and other institutional investors 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.