GH Research (NASDAQ:GHRS) Shares Gap Up – Time to Buy?

GH Research PLC (NASDAQ:GHRS) gapped up prior to trading 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 changing hands.

Wall Street Analysts Forecast Growth

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

GH Research Stock Down 0.5 %

The stock has a market cap of $546.29 million, a P/E ratio of -13.29 and a beta of 0.94. The business has a 50-day simple moving average of $10.80 and a 200-day simple moving average of $9.18.

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

Institutional Investors Weigh In On GH Research

A number of large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position 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 valued at $508,000 after acquiring an additional 3,092 shares during the period. AdvisorShares Investments LLC boosted its position in shares of GH Research by 15.4% in the fourth 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 fourth quarter valued at approximately $44,000. Northern Trust Corp boosted its position in shares of GH Research by 26.8% in the fourth quarter. Northern Trust Corp now owns 40,834 shares of the company’s stock valued at $286,000 after acquiring an additional 8,641 shares during the period. Finally, Two Sigma Investments LP bought a new stake in shares of GH Research in the fourth quarter valued at approximately $117,000. 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).