GH Research (NASDAQ:GHRS) Trading Up 2% – Should You Buy?

GH Research PLC (NASDAQ:GHRS)’s stock price rose 2% on Thursday . The company traded as high as $9.40 and last traded at $9.28. Approximately 58,324 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 79,324 shares. The stock had previously closed at $9.10.

Analyst Ratings Changes

Several research firms have issued reports on GHRS. JMP Securities reiterated a “market outperform” rating and set a $39.00 price objective on shares of GH Research in a research note on Wednesday, September 4th. Canaccord Genuity Group dropped their target price on shares of GH Research from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Finally, HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of GH Research in a report on Wednesday, November 20th.

GH Research Stock Performance

The company has a 50-day simple moving average of $7.95 and a 200-day simple moving average of $10.24. The stock has a market cap of $482.84 million, a P/E ratio of -11.75 and a beta of 0.74.

GH Research (NASDAQ:GHRS) last released its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. As a group, sell-side analysts expect that GH Research PLC will post -0.79 earnings per share for the current fiscal year.

Institutional Trading of GH Research

An institutional investor recently raised its position in GH Research stock. RA Capital Management L.P. boosted its position in shares of GH Research PLC (NASDAQ:GHRS) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,686,689 shares of the company’s stock after buying an additional 85,000 shares during the quarter. RA Capital Management L.P. owned approximately 12.85% of GH Research worth $44,734,000 as of its most recent SEC filing. Institutional investors own 56.90% of the company’s stock.

GH Research Company Profile

GH Research PLC, together with its subsidiary GH Research Ireland Limited, engages in developing various therapies to treat psychiatric and neurological disorders. It is involved in the development of 5-Methoxy-N,N-Dimethyltryptamine (5-MeO-DMT) therapies for the treatment of patients with treatment-resistant depression (TRD).