Royal Bank Of Canada Issues Positive Forecast for GH Research (NASDAQ:GHRS) Stock Price

GH Research (NASDAQ:GHRS) had its price target upped by stock analysts at Royal Bank Of Canada from $33.00 to $40.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 142.06% from the company’s current price.

GHRS has been the subject of a number of other research reports. HC Wainwright cut their target price on shares of GH Research from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Wolfe Research set a $39.00 price objective on shares of GH Research in a report on Tuesday, January 6th. Needham & Company LLC set a $29.00 target price on shares of GH Research in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GH Research in a research report on Wednesday, October 8th. Finally, Canaccord Genuity Group boosted their price target on shares of GH Research from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $34.11.

GH Research Stock Down 1.3%

Shares of GHRS traded down $0.22 during mid-day trading on Friday, reaching $16.53. The company had a trading volume of 19,012 shares, compared to its average volume of 849,367. The stock has a 50 day moving average of $14.38 and a two-hundred day moving average of $14.01. The stock has a market capitalization of $859.80 million, a P/E ratio of -22.24 and a beta of 0.98. GH Research has a 52-week low of $7.98 and a 52-week high of $20.50.

GH Research (NASDAQ:GHRS) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.23) EPS for the quarter, hitting the consensus estimate of ($0.23). On average, sell-side analysts expect that GH Research will post -0.8 earnings per share for the current year.

Institutional Trading of GH Research

Hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. raised its holdings in GH Research by 63.6% during the second quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock worth $75,000 after purchasing an additional 2,400 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in GH Research during the 2nd quarter worth $79,000. Virtus Investment Advisers LLC acquired a new stake in GH Research during the 2nd quarter worth $89,000. BNP Paribas Financial Markets lifted its position in GH Research by 165.4% in the second quarter. BNP Paribas Financial Markets now owns 17,010 shares of the company’s stock valued at $207,000 after acquiring an additional 10,600 shares during the last quarter. Finally, Man Group plc acquired a new position in GH Research in the third quarter valued at $315,000. 56.90% of the stock is currently owned by institutional investors and hedge funds.

GH Research Company Profile

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.