GH Research (NASDAQ:GHRS) Stock Gets Downgrade from Wall Street Zen

GH Research (NASDAQ:GHRS) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

A number of other analysts have also recently commented on the company. Cantor Fitzgerald boosted their price objective on GH Research from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. HC Wainwright restated a “buy” rating on shares of GH Research in a report on Monday, August 10th. Zacks Research raised shares of GH Research from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. New Street Research set a $65.00 price objective on GH Research in a research report on Monday, August 10th. Finally, Needham & Company LLC lifted their price target on shares of GH Research from $32.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

GH Research Price Performance

Shares of GHRS stock opened at $18.07 on Friday. GH Research has a 52-week low of $12.04 and a 52-week high of $31.44. The stock has a market cap of $1.24 billion, a PE ratio of -18.07 and a beta of 1.32. The business has a 50-day simple moving average of $24.94 and a 200-day simple moving average of $24.11.

GH Research (NASDAQ:GHRS) last posted its earnings results on Thursday, August 6th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.06. Sell-side analysts anticipate that GH Research will post -1.20 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GH Research

A number of large investors have recently modified their holdings of GHRS. Royal Bank of Canada lifted its stake in GH Research by 43.1% during the first quarter. Royal Bank of Canada now owns 2,590 shares of the company’s stock worth $36,000 after purchasing an additional 780 shares during the last quarter. North Star Investment Management Corp. acquired a new position in GH Research in the first quarter valued at approximately $31,000. Farther Finance Advisors LLC increased its stake in GH Research by 9,720.0% in the third quarter. Farther Finance Advisors LLC now owns 9,820 shares of the company’s stock valued at $231,000 after purchasing an additional 9,720 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in GH Research during the second quarter worth approximately $495,000. Finally, Renaissance Technologies LLC acquired a new stake in GH Research during the first quarter worth approximately $290,000. 56.90% of the stock is owned by hedge funds and other institutional investors.

About GH Research

GH Research plc is a clinical-stage biopharmaceutical company focused on developing novel therapies for psychiatric and neurological disorders. The company is headquartered in Dublin, Ireland, and conducts research and clinical development activities through its proprietary pipeline of psychedelic-based medicines.

Its lead program, GH001, is an investigational inhaled formulation of mebufotenin, also known as 5-MeO-DMT. GH Research has studied GH001 in patients with treatment-resistant depression, with the aim of developing a rapidly acting treatment that may provide meaningful improvements following a short course of administration.