GH Research (NASDAQ:GHRS) Announces Quarterly Earnings Results, Misses Estimates By $0.04 EPS

GH Research (NASDAQ:GHRS) posted its quarterly earnings results on Thursday. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.04), FiscalAI reports.

GH Research Stock Up 1.5%

GHRS opened at $22.21 on Friday. The firm has a market capitalization of $1.38 billion, a P/E ratio of -27.76 and a beta of 1.27. The firm’s 50 day moving average is $17.03 and its 200-day moving average is $15.49. GH Research has a 52-week low of $9.52 and a 52-week high of $24.66.

Institutional Trading of GH Research

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its stake in shares of GH Research by 63.4% in the fourth quarter. Barclays PLC now owns 2,118 shares of the company’s stock worth $27,000 after buying an additional 822 shares during the last quarter. Osaic Holdings Inc. increased its stake 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 worth $75,000 after buying an additional 2,400 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of GH Research in the second quarter worth $79,000. BNP Paribas Financial Markets increased its stake in shares of GH Research by 165.4% in the second 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, Virtus Investment Advisers LLC increased its stake in shares of GH Research by 130.1% in the fourth quarter. Virtus Investment Advisers LLC now owns 20,408 shares of the company’s stock worth $259,000 after buying an additional 11,539 shares during the last quarter. Institutional investors own 56.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup restated an “outperform” rating on shares of GH Research in a report on Friday. Cantor Fitzgerald raised their price target on shares of GH Research from $25.00 to $35.00 and gave the company an “overweight” rating in a report on Friday. Guggenheim set a $34.00 price target on shares of GH Research and gave the company a “buy” rating in a report on Tuesday, March 10th. Weiss Ratings restated a “sell (d-)” rating on shares of GH Research in a report on Tuesday, April 21st. Finally, Citizens Jmp dropped their price objective on shares of GH Research from $42.00 to $39.00 and set a “market outperform” rating on the stock in a research note on Friday. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, GH Research currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

About GH Research

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.