Canaccord Genuity Group Issues Pessimistic Forecast for GH Research (NASDAQ:GHRS) Stock Price

GH Research (NASDAQ:GHRS) had its price objective reduced by equities researchers at Canaccord Genuity Group from $31.00 to $28.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 191.36% from the company’s current price.

Other analysts have also issued reports about the company. HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of GH Research in a research note on Thursday, September 5th. JMP Securities reissued a “market outperform” rating and issued a $39.00 price target on shares of GH Research in a research note on Wednesday, September 4th.

GH Research Stock Up 1.5 %

GHRS opened at $9.61 on Monday. The firm has a market cap of $499.99 million, a P/E ratio of -12.16 and a beta of 0.74. GH Research has a 52 week low of $5.05 and a 52 week high of $14.99. The business’s fifty day simple moving average is $7.82 and its 200 day simple moving average is $10.33.

GH Research (NASDAQ:GHRS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. As a group, equities analysts expect that GH Research will post -0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On GH Research

A hedge fund recently raised its stake in GH Research stock. RA Capital Management L.P. raised its position in GH Research PLC (NASDAQ:GHRS) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,686,689 shares of the company’s stock after purchasing an additional 85,000 shares during the quarter. RA Capital Management L.P. owned 12.85% of GH Research worth $44,734,000 at the end of the most recent quarter. 56.90% of the stock is currently 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).