GH Research (NASDAQ:GHRS) Shares Climb 5.4% on Better-Than-Expected Earnings

GH Research PLC (NASDAQ:GHRS) shot up 5.4% during mid-day trading on Friday following a stronger than expected earnings report. The company traded as high as $19.66 and last traded at $19.4840. Approximately 112,971 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 301,856 shares. The stock had previously closed at $18.49.

The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.13.

Analyst Ratings Changes

GHRS has been the subject of a number of research analyst reports. New Street Research set a $65.00 price target on GH Research in a report on Monday, August 10th. Needham & Company LLC upped their target price on shares of GH Research from $32.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Cantor Fitzgerald increased their price objective on shares of GH Research from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Guggenheim lifted their price objective on GH Research from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, HC Wainwright reiterated a “buy” rating on shares of GH Research in a research note on Monday, August 10th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Institutional Investors Weigh In On GH Research

Several institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in shares of GH Research by 43.1% in the first quarter. Royal Bank of Canada now owns 2,590 shares of the company’s stock valued at $36,000 after purchasing an additional 780 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in GH Research in the third quarter valued at approximately $82,000. Farther Finance Advisors LLC raised its position in GH Research by 9,720.0% during the third quarter. Farther Finance Advisors LLC now owns 9,820 shares of the company’s stock worth $231,000 after acquiring an additional 9,720 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of GH Research in the first quarter valued at approximately $290,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of GH Research by 30.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 17,525 shares of the company’s stock worth $432,000 after buying an additional 4,106 shares during the last quarter. Institutional investors and hedge funds own 56.90% of the company’s stock.

GH Research Price Performance

The firm has a market capitalization of $1.32 billion, a P/E ratio of -19.58 and a beta of 1.31. The business’s 50-day moving average is $22.48 and its 200 day moving average is $21.63.

GH Research Company Profile

GH Research plc is a clinical-stage biopharmaceutical company focused on developing treatments for psychiatric and neurological disorders. The company is based in Dublin, Ireland, and its research centers on mebufotenin, also known as 5-MeO-DMT. Its lead investigational candidate, GH001, is an inhaled formulation being studied for treatment-resistant depression. GH Research is also developing other mebufotenin-based candidates and delivery approaches. These treatments remain investigational and are not approved for general use.