GH Research (NASDAQ:GHRS) Shares Gap Up – Here’s Why

Shares of GH Research PLC (NASDAQ:GHRS) gapped up prior to trading on Friday . The stock had previously closed at $10.55, but opened at $10.99. GH Research shares last traded at $10.81, with a volume of 15,977 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GHRS shares. Royal Bank of Canada assumed coverage on shares of GH Research in a research report on Friday. They set an “outperform” rating and a $31.00 price target on the stock. Canaccord Genuity Group lowered their target price on shares of GH Research from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Cantor Fitzgerald initiated coverage on GH Research in a research note on Thursday, February 13th. They issued an “overweight” rating and a $14.00 price target for the company. Stifel Nicolaus raised their price objective on GH Research from $18.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of GH Research in a research report on Monday, January 27th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, GH Research has an average rating of “Buy” and an average target price of $30.67.

GH Research Stock Up 0.3 %

The business’s 50 day moving average is $10.73 and its 200-day moving average is $9.20. The firm has a market capitalization of $550.77 million, a P/E ratio of -13.40 and a beta of 0.94.

GH Research (NASDAQ:GHRS) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. Research analysts forecast that GH Research PLC will post -0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On GH Research

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new stake in GH Research in the fourth quarter valued at approximately $44,000. Two Sigma Investments LP acquired a new stake in shares of GH Research during the 4th quarter valued at $117,000. Millennium Management LLC acquired a new position in GH Research in the 4th quarter worth about $145,000. AdvisorShares Investments LLC raised its position in GH Research by 15.4% in the fourth quarter. AdvisorShares Investments LLC now owns 36,011 shares of the company’s stock valued at $252,000 after purchasing an additional 4,806 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of GH Research by 26.8% during the fourth quarter. Northern Trust Corp now owns 40,834 shares of the company’s stock valued at $286,000 after purchasing an additional 8,641 shares in the last quarter. 56.90% of the stock is currently owned by institutional investors and hedge funds.

About GH Research

GH Research PLC, together with its subsidiary GH Research Ireland Limited, engages in developing various therapies to treat psychiatric and neurological disorders. It is involved in the development of 5-Methoxy-N,N-Dimethyltryptamine (5-MeO-DMT) therapies for the treatment of patients with treatment-resistant depression (TRD).