GH Research (NASDAQ:GHRS) Shares Gap Up - Here's Why

GH Research PLC (NASDAQ:GHRS - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $10.55, but opened at $10.99. GH Research shares last traded at $10.81, with a volume of 15,977 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GHRS. Royal Bank of Canada initiated coverage on GH Research in a research report on Friday. They set an "outperform" rating and a $31.00 price objective on the stock. Canaccord Genuity Group dropped their price objective on shares of GH Research from $31.00 to $28.00 and set a "buy" rating for the company in a research note on Monday, November 18th. HC Wainwright reiterated a "buy" rating and set a $40.00 target price on shares of GH Research in a research report on Monday, January 27th. Stifel Nicolaus upped their target price on shares of GH Research from $18.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Cantor Fitzgerald assumed coverage on shares of GH Research in a research note on Thursday, February 13th. They set an "overweight" rating and a $14.00 price target for the company. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $30.67.

GH Research Trading Down 3.4 %

The firm has a market cap of $562.94 million, a P/E ratio of -13.70 and a beta of 0.94. The company's fifty day moving average price is $10.95 and its two-hundred day moving average price is $9.17.

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GH Research (NASDAQ:GHRS - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.06. On average, analysts predict that GH Research PLC will post -0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On GH Research

Hedge funds and other institutional investors have recently bought and sold shares of the business. RA Capital Management L.P. grew its holdings in shares of GH Research by 1.3% during the third quarter. RA Capital Management L.P. now owns 6,686,689 shares of the company's stock worth $44,734,000 after purchasing an additional 85,000 shares during the last quarter. Millennium Management LLC acquired a new position in GH Research during the 4th quarter worth $145,000. Two Sigma Investments LP bought a new position in GH Research in the 4th quarter valued at $117,000. BNP Paribas Financial Markets acquired a new stake in shares of GH Research in the 4th quarter valued at $44,000. Finally, Northern Trust Corp raised its position in shares of GH Research by 26.8% during the fourth quarter. Northern Trust Corp now owns 40,834 shares of the company's stock worth $286,000 after acquiring an additional 8,641 shares during the last quarter. 56.90% of the stock is owned by institutional investors and hedge funds.

About GH Research

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).