GH Research (NASDAQ:GHRS) Sets New 52-Week High – Time to Buy?

GH Research PLC (NASDAQ:GHRS)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $31.00 and last traded at $29.7030, with a volume of 40483 shares changing hands. The stock had previously closed at $26.92.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Citigroup reissued an “outperform” rating on shares of GH Research in a report on Friday, May 15th. Cantor Fitzgerald raised their target price on GH Research from $25.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Citizens Jmp decreased their target price on shares of GH Research from $42.00 to $39.00 and set a “market outperform” rating on the stock in a research report on Friday, May 15th. Zacks Research cut shares of GH Research from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Finally, HC Wainwright cut their price target on shares of GH Research from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.38.

GH Research Stock Performance

The company’s fifty day simple moving average is $23.81 and its two-hundred day simple moving average is $18.74. The stock has a market capitalization of $1.97 billion, a PE ratio of -31.21 and a beta of 1.28.

GH Research (NASDAQ:GHRS) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.04). Sell-side analysts forecast that GH Research PLC will post -1.46 EPS for the current fiscal year.

Hedge Funds Weigh In On GH Research

Several hedge funds have recently bought and sold shares of GHRS. Royal Bank of Canada increased its stake in 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 during the last quarter. Barclays PLC boosted its stake in GH Research by 63.4% in the 4th quarter. Barclays PLC now owns 2,118 shares of the company’s stock worth $27,000 after buying an additional 822 shares during the last quarter. North Star Investment Management Corp. purchased a new stake in GH Research in the 1st quarter valued at about $31,000. Osaic Holdings Inc. increased its stake in shares of GH Research by 63.6% during the 2nd quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock valued at $75,000 after acquiring an additional 2,400 shares during the last quarter. Finally, Jefferies Financial Group Inc. increased its stake in shares of GH Research by 0.4% during the 4th quarter. Jefferies Financial Group Inc. now owns 712,300 shares of the company’s stock valued at $9,046,000 after acquiring an additional 2,988 shares during the last quarter. Hedge funds and other institutional investors 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.