GH Research (NASDAQ:GHRS) Rating Lowered to Strong Sell at Zacks Research

GH Research (NASDAQ:GHRS) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities analysts have also issued reports on GHRS. Citigroup restated an “outperform” rating on shares of GH Research in a research report on Friday, May 15th. Citizens Jmp decreased their price target on shares of GH Research from $42.00 to $39.00 and set a “market outperform” rating for the company in a research note on Friday, May 15th. HC Wainwright lowered their price objective on shares of GH Research from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GH Research in a report on Tuesday, April 21st. Finally, Cantor Fitzgerald increased their target price on shares of GH Research from $25.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.38.

GH Research Stock Performance

GHRS opened at $29.13 on Wednesday. GH Research has a one year low of $11.32 and a one year high of $31.00. The stock has a market capitalization of $2.00 billion, a P/E ratio of -31.66 and a beta of 1.28. The business’s 50-day simple moving average is $23.66 and its 200-day simple moving average is $18.67.

GH Research (NASDAQ:GHRS) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.04). On average, equities research analysts forecast that GH Research will post -1.46 EPS for the current fiscal year.

Institutional Investors Weigh In On GH Research

A number of hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in 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 during the period. Barclays PLC lifted its holdings in shares of 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 buying an additional 822 shares during the period. North Star Investment Management Corp. purchased a new stake in shares of GH Research in the first quarter valued at approximately $31,000. Osaic Holdings Inc. boosted its stake 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 valued at $75,000 after buying an additional 2,400 shares in the last quarter. Finally, Jefferies Financial Group Inc. grew its holdings in GH Research by 0.4% during the fourth quarter. Jefferies Financial Group Inc. now owns 712,300 shares of the company’s stock worth $9,046,000 after acquiring an additional 2,988 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.