GH Research (NASDAQ:GHRS) Stock Price Up 2% – Time to Buy?

GH Research PLC (NASDAQ:GHRS)’s stock price traded up 2% during trading on Wednesday . The company traded as high as $9.80 and last traded at $9.80. 1,026 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 79,340 shares. The stock had previously closed at $9.61.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GHRS. Canaccord Genuity Group decreased their price objective on shares of GH Research from $31.00 to $28.00 and set a “buy” rating for the company in a report on Monday. JMP Securities reissued a “market outperform” rating and set a $39.00 target price on shares of GH Research in a research report on Wednesday, September 4th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $40.00 price objective on shares of GH Research in a report on Wednesday.

GH Research Stock Down 12.1 %

The business has a 50-day simple moving average of $7.90 and a two-hundred day simple moving average of $10.33. The stock has a market capitalization of $500.53 million, a P/E ratio of -12.18 and a beta of 0.74.

GH Research (NASDAQ:GHRS) last announced its earnings results on Tuesday, September 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. On average, sell-side analysts forecast that GH Research PLC will post -0.78 earnings per share for the current year.

Institutional Investors Weigh In On GH Research

An institutional investor recently raised its position in GH Research stock. RA Capital Management L.P. grew its holdings in GH Research PLC (NASDAQ:GHRS) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,686,689 shares of the company’s stock after purchasing an additional 85,000 shares during the quarter. RA Capital Management L.P. owned about 12.85% of GH Research worth $44,734,000 as of its most recent filing with the SEC. 56.90% of the stock is owned by hedge funds and other institutional investors.

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).