GH Research (NASDAQ:GHRS) Rating Increased to Strong-Buy at Wells Fargo & Company

GH Research (NASDAQ:GHRS) was upgraded by stock analysts at Wells Fargo & Company to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GH Research in a report on Friday, July 17th. HC Wainwright lowered their price target on shares of GH Research from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Citigroup restated an “outperform” rating on shares of GH Research in a research report on Friday, May 15th. Cantor Fitzgerald boosted their price objective on GH Research from $25.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Finally, Citizens Jmp reduced their price objective on GH Research from $42.00 to $39.00 and set a “market outperform” rating for the company in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, GH Research presently has an average rating of “Moderate Buy” and an average price target of $40.78.

GH Research Price Performance

Shares of GH Research stock opened at $27.75 on Monday. The business has a fifty day simple moving average of $24.55 and a two-hundred day simple moving average of $19.39. GH Research has a 1 year low of $11.32 and a 1 year high of $31.00. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -30.16 and a beta of 1.28.

GH Research (NASDAQ:GHRS) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.04). As a group, equities analysts anticipate that GH Research will post -1.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GH Research

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GHRS. Barclays PLC raised its holdings in GH Research by 63.4% in the 4th quarter. Barclays PLC now owns 2,118 shares of the company’s stock valued at $27,000 after acquiring an additional 822 shares in the last quarter. North Star Investment Management Corp. acquired a new stake in shares of GH Research during the 1st quarter worth $31,000. Royal Bank of Canada grew its holdings in shares of GH Research by 43.1% during the 1st quarter. Royal Bank of Canada now owns 2,590 shares of the company’s stock worth $36,000 after purchasing an additional 780 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of GH Research in the fourth quarter worth $38,000. Finally, Osaic Holdings Inc. increased its position in shares of GH Research by 63.6% in the second quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock worth $75,000 after purchasing an additional 2,400 shares during the period. 56.90% of the stock is owned by institutional investors and hedge funds.

About GH Research

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.