GH Research’s (GHRS) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of GH Research (NASDAQ:GHRS) in a research report report published on Monday, MarketBeat.com reports. They currently have a $19.00 target price on the stock.

GHRS has been the topic of several other research reports. HC Wainwright dropped their price objective on GH Research from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Weiss Ratings restated a “sell (d-)” rating on shares of GH Research in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut GH Research from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, GH Research has an average rating of “Moderate Buy” and a consensus target price of $33.11.

GH Research Stock Up 27.1%

Shares of GH Research stock opened at $17.95 on Monday. GH Research has a 52 week low of $7.98 and a 52 week high of $20.50. The firm’s 50 day moving average is $13.83 and its two-hundred day moving average is $13.78. The firm has a market capitalization of $933.94 million, a P/E ratio of -24.26 and a beta of 0.98.

GH Research (NASDAQ:GHRS) last issued its earnings results on Thursday, November 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.23). As a group, research analysts expect that GH Research will post -0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. increased its holdings in shares of GH Research by 63.6% in the second quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock valued at $75,000 after purchasing an additional 2,400 shares during the period. JPMorgan Chase & Co. acquired a new position in GH Research in the 2nd quarter valued at $79,000. Virtus Investment Advisers LLC acquired a new position in GH Research in the 2nd quarter valued at $89,000. BNP Paribas Financial Markets raised its position in GH Research by 165.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 17,010 shares of the company’s stock worth $207,000 after buying an additional 10,600 shares during the last quarter. Finally, Palumbo Wealth Management LLC lifted its stake in shares of GH Research by 68.2% in the 2nd quarter. Palumbo Wealth Management LLC now owns 21,651 shares of the company’s stock worth $264,000 after acquiring an additional 8,782 shares during the period. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

GH Research Company Profile

GH Research Holdings Inc is a clinical-stage biotechnology company dedicated to the development of novel treatments for neuropsychiatric disorders through the application of psychedelic-inspired compounds. Headquartered in Dublin, Ireland, the company focuses on harnessing the unique pharmacology of 5-methoxy-N-dimethyltryptamine (5-MeO-DMT) and related molecules to address high unmet medical needs in mental health.

The firm’s lead program, GH001, is an inhaled formulation of 5-MeO-DMT that has completed early-stage clinical trials assessing safety, tolerability and preliminary efficacy in treatment-resistant depression.