GH Research (NASDAQ:GHRS) Trading Up 6.7% - Time to Buy?

GH Research PLC (NASDAQ:GHRS - Get Free Report)'s stock price shot up 6.7% during mid-day trading on Monday . The stock traded as high as $10.92 and last traded at $11.20. 289,391 shares changed hands during trading, an increase of 78% from the average session volume of 162,579 shares. The stock had previously closed at $10.50.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GHRS. Stifel Nicolaus raised 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. Canaccord Genuity Group lowered their price objective on shares of GH Research from $31.00 to $28.00 and set a "buy" rating on the stock in a research report on Monday, November 18th. Cantor Fitzgerald started coverage on shares of GH Research in a research report on Thursday, February 13th. They issued an "overweight" rating and a $14.00 target price for the company. Royal Bank of Canada assumed coverage on GH Research in a research report on Friday, March 7th. They set an "outperform" rating and a $31.00 price target on the stock. Finally, HC Wainwright reiterated a "buy" rating and issued a $40.00 price objective on shares of GH Research in a report on Monday, January 27th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, GH Research presently has a consensus rating of "Buy" and an average price target of $30.67.

GH Research Price Performance

The stock has a 50 day moving average price of $10.95 and a 200-day moving average price of $9.17. The stock has a market capitalization of $573.50 million, a P/E ratio of -13.95 and a beta of 0.94.

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

Institutional Trading of GH Research

Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of GH Research by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 72,513 shares of the company's stock worth $508,000 after purchasing an additional 3,092 shares during the last quarter. AdvisorShares Investments LLC lifted its position in GH Research by 15.4% during the 4th quarter. AdvisorShares Investments LLC now owns 36,011 shares of the company's stock valued at $252,000 after acquiring an additional 4,806 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of GH Research in the 4th quarter worth approximately $44,000. Northern Trust Corp boosted its holdings in GH Research by 26.8% in 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 in the last quarter. Finally, Two Sigma Investments LP purchased a new stake in GH Research during the 4th quarter valued at about $117,000. Hedge funds and other 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).