GH Research (NASDAQ:GHRS) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

GH Research (NASDAQ:GHRS) announced its earnings results on Thursday. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.06, Zacks reports.

GH Research Stock Performance

Shares of NASDAQ GHRS traded down $0.37 during midday trading on Friday, reaching $30.27. The company’s stock had a trading volume of 337,156 shares, compared to its average volume of 318,768. The company has a market cap of $2.08 billion, a P/E ratio of -30.27 and a beta of 1.29. The business’s 50 day moving average price is $25.70 and its two-hundred day moving average price is $20.16. GH Research has a fifty-two week low of $11.32 and a fifty-two week high of $31.44.

Hedge Funds Weigh In On GH Research

A number of hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC raised its holdings in 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 acquiring an additional 822 shares in the last quarter. Osaic Holdings Inc. grew its holdings 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 worth $75,000 after purchasing an additional 2,400 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of GH Research in the second quarter worth $79,000. HRT Financial LP bought a new position in shares of GH Research in the fourth quarter worth $202,000. Finally, BNP Paribas Financial Markets raised its stake 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 purchasing an additional 10,600 shares in the last quarter. Institutional investors own 56.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on GHRS. Cantor Fitzgerald boosted their price target on GH Research from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday. Citizens Jmp lowered their price objective on 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. Wall Street Zen raised GH Research from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Research downgraded GH Research from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 15th. Finally, Citigroup reissued an “outperform” rating on shares of GH Research in a research report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.78.

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.