GH Research (NASDAQ:GHRS) Trading Up 7% – Time to Buy?

GH Research PLC (NASDAQ:GHRS)’s stock price shot up 7% during trading on Wednesday . The stock traded as high as $11.28 and last traded at $11.34. 37,061 shares were traded during mid-day trading, a decline of 77% from the average session volume of 164,126 shares. The stock had previously closed at $10.60.

Analyst Upgrades and Downgrades

Several research firms have commented on GHRS. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of GH Research in a report on Monday, January 27th. Royal Bank of Canada initiated coverage on shares of GH Research in a research report on Friday, March 7th. They issued an “outperform” rating and a $31.00 price objective for the company. Guggenheim initiated coverage on shares of GH Research in a research report on Thursday, March 13th. They issued a “buy” rating and a $32.00 price objective for the company. Cantor Fitzgerald initiated coverage on shares of GH Research in a research report on Thursday, February 13th. They issued an “overweight” rating and a $14.00 price objective for the company. Finally, Stifel Nicolaus upped their price objective on shares of GH Research from $18.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, GH Research presently has an average rating of “Buy” and an average target price of $30.86.

GH Research Stock Performance

The company has a market cap of $650.35 million, a PE ratio of -15.82 and a beta of 0.94. The firm’s 50 day moving average is $11.31 and its 200-day moving average is $9.20.

GH Research (NASDAQ:GHRS) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.06. On average, analysts predict that GH Research PLC will post -0.8 EPS for the current year.

Institutional Trading of GH Research

Several hedge funds have recently made changes to their positions in GHRS. Lynx1 Capital Management LP boosted its position in shares of GH Research by 15.8% during the 4th quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company’s stock worth $34,013,000 after purchasing an additional 663,100 shares during the period. Diadema Partners LP purchased a new position in shares of GH Research during the 4th quarter worth approximately $711,000. RA Capital Management L.P. boosted its position in shares of GH Research by 1.3% during the 3rd quarter. RA Capital Management L.P. now owns 6,686,689 shares of the company’s stock worth $44,734,000 after purchasing an additional 85,000 shares during the period. Woodline Partners LP boosted its position in shares of GH Research by 112.0% during the 4th quarter. Woodline Partners LP now owns 78,949 shares of the company’s stock worth $553,000 after purchasing an additional 41,711 shares during the period. Finally, Millennium Management LLC purchased a new position in shares of GH Research during the 4th quarter worth approximately $145,000. Hedge funds and other institutional investors own 56.90% of the company’s stock.

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).