GH Research (NASDAQ:GHRS) Issues Earnings Results

GH Research (NASDAQ:GHRS) announced its quarterly earnings results on Thursday. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.06, Zacks reports.

GH Research Price Performance

Shares of NASDAQ GHRS traded down $0.37 during mid-day trading on Friday, hitting $30.27. The company had a trading volume of 337,156 shares, compared to its average volume of 318,768. The business’s 50-day simple moving average is $25.70 and its 200-day simple moving average is $20.16. GH Research has a 12 month low of $11.32 and a 12 month high of $31.44. The firm has a market cap of $2.08 billion, a P/E ratio of -30.27 and a beta of 1.29.

Analysts Set New Price Targets

A number of research firms recently issued reports on GHRS. Zacks Research lowered shares of GH Research from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 15th. Citizens Jmp cut their target price on shares of GH Research from $42.00 to $39.00 and set a “market outperform” rating for the company in a research report on Friday, May 15th. Wall Street Zen upgraded shares of GH Research from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GH Research in a research report on Friday, July 17th. Finally, Wells Fargo & Company initiated coverage on GH Research in a research note on Monday, July 27th. They issued an “overweight” rating and a $44.00 price objective on the stock. Ten research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.78.

Hedge Funds Weigh In On GH Research

Several large investors have recently added to or reduced their stakes in the company. Virtus Investment Advisers LLC grew its holdings in shares of GH Research by 130.1% during the 4th quarter. Virtus Investment Advisers LLC now owns 20,408 shares of the company’s stock worth $259,000 after purchasing an additional 11,539 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of GH Research during the fourth quarter valued at approximately $696,000. Goldman Sachs Group Inc. raised its stake in shares of GH Research by 631.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 80,986 shares of the company’s stock valued at $1,029,000 after purchasing an additional 69,911 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of GH Research in the third quarter valued at $1,350,000. Finally, Boothbay Fund Management LLC lifted its position in GH Research by 504.0% in the third quarter. Boothbay Fund Management LLC now owns 83,550 shares of the company’s stock worth $1,195,000 after purchasing an additional 69,717 shares during the period. Institutional investors and hedge funds own 56.90% of the company’s stock.

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.