GH Research (NASDAQ:GHRS) Upgraded to Hold at Zacks Research

GH Research (NASDAQ:GHRS) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

Several other analysts have also recently weighed in on GHRS. Citizens Jmp dropped their price target on shares of GH Research from $42.00 to $39.00 and set a “market outperform” rating for the company in a research note on Friday, May 15th. Citigroup reaffirmed an “outperform” rating on shares of GH Research in a research report on Friday, May 15th. Wall Street Zen upgraded GH Research from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. HC Wainwright reiterated a “buy” rating on shares of GH Research in a research report on Monday. Finally, Cantor Fitzgerald raised their target price on GH Research from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.00.

GH Research Trading Up 4.6%

Shares of GHRS opened at $29.49 on Thursday. GH Research has a 12-month low of $11.83 and a 12-month high of $31.44. The firm has a 50-day moving average price of $26.25 and a 200 day moving average price of $20.61. The firm has a market capitalization of $2.02 billion, a P/E ratio of -29.49 and a beta of 1.29.

GH Research (NASDAQ:GHRS) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.06. Equities research analysts predict that GH Research will post -1.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GH Research

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its holdings in shares of GH Research by 43.1% in the 1st quarter. Royal Bank of Canada now owns 2,590 shares of the company’s stock worth $36,000 after acquiring an additional 780 shares during the last quarter. Barclays PLC increased its holdings in GH Research by 63.4% in the 4th quarter. Barclays PLC now owns 2,118 shares of the company’s stock valued at $27,000 after purchasing an additional 822 shares during the last quarter. North Star Investment Management Corp. purchased a new stake in GH Research in the first quarter valued at approximately $31,000. Osaic Holdings Inc. raised its position in 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. Finally, Jefferies Financial Group Inc. raised its position in GH Research by 0.4% in the fourth quarter. Jefferies Financial Group Inc. now owns 712,300 shares of the company’s stock valued at $9,046,000 after purchasing an additional 2,988 shares during the period. 56.90% of the stock is currently owned by institutional investors and hedge funds.

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.