GH Research (NASDAQ:GHRS) Trading 7% Higher - Still a Buy?

GH Research PLC (NASDAQ:GHRS - Get Free Report)'s share price shot up 7% during mid-day trading on Wednesday . The company traded as high as $11.28 and last traded at $11.34. 37,061 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 164,126 shares. The stock had previously closed at $10.60.

Wall Street Analyst Weigh In

GHRS has been the subject of a number of analyst reports. Cantor Fitzgerald assumed coverage on shares of GH Research in a research report on Thursday, February 13th. They issued an "overweight" rating and a $14.00 price objective for the company. Stifel Nicolaus boosted their price target on shares of GH Research from $18.00 to $32.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. HC Wainwright reaffirmed a "buy" rating and issued a $40.00 price target on shares of GH Research in a report on Monday, January 27th. Royal Bank of Canada initiated coverage on GH Research in a research note on Friday, March 7th. They set an "outperform" rating and a $31.00 price objective for the company. Finally, Guggenheim initiated coverage on GH Research in a research note on Thursday, March 13th. They issued a "buy" rating and a $32.00 target price on the stock. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $30.86.

GH Research Price Performance

The stock has a 50 day moving average of $11.39 and a 200 day moving average of $9.21. The firm has a market cap of $650.35 million, a P/E ratio of -15.82 and a beta of 0.94.

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GH Research (NASDAQ:GHRS - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.17) earnings per share for the quarter, beating analysts' consensus estimates of ($0.23) by $0.06. On average, research 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 have recently made changes to their positions in the business. Lynx1 Capital Management LP raised its position in GH Research by 15.8% in the 4th quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company's stock worth $34,013,000 after purchasing an additional 663,100 shares during the period. Diadema Partners LP purchased a new position in shares of GH Research in the fourth quarter worth about $711,000. RA Capital Management L.P. lifted its stake in shares of GH Research by 1.3% in the 3rd quarter. RA Capital Management L.P. now owns 6,686,689 shares of the company's stock valued at $44,734,000 after acquiring an additional 85,000 shares during the last quarter. Woodline Partners LP boosted its holdings in GH Research by 112.0% during the 4th quarter. Woodline Partners LP now owns 78,949 shares of the company's stock valued at $553,000 after acquiring an additional 41,711 shares during the period. Finally, Millennium Management LLC bought a new position in GH Research during the 4th quarter worth approximately $145,000. 56.90% of the stock is currently owned by institutional investors.

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).