Canaccord Genuity Group Increases GH Research (NASDAQ:GHRS) Price Target to $31.00

GH Research (NASDAQ:GHRS) had its price target hoisted by Canaccord Genuity Group from $30.00 to $31.00 in a report published on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on GHRS. HC Wainwright reaffirmed a buy rating and set a $40.00 price target on shares of GH Research in a research note on Monday, March 4th. JMP Securities decreased their target price on shares of GH Research from $50.00 to $39.00 and set a market outperform rating for the company in a research report on Friday, March 1st.

GH Research Stock Performance

GHRS opened at $11.99 on Monday. The stock has a market capitalization of $623.84 million, a P/E ratio of -19.34 and a beta of 0.80. GH Research has a 12 month low of $5.05 and a 12 month high of $14.64. The firm’s fifty day simple moving average is $10.65 and its 200 day simple moving average is $8.13.

GH Research (NASDAQ:GHRS) last issued its quarterly earnings results on Friday, May 3rd. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.07. On average, equities research analysts predict that GH Research will post -0.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. BVF Inc. IL raised its stake in shares of GH Research by 12.1% during the 4th quarter. BVF Inc. IL now owns 10,400,158 shares of the company’s stock worth $60,321,000 after purchasing an additional 1,125,000 shares in the last quarter. AdvisorShares Investments LLC raised its position in GH Research by 4.3% during the fourth quarter. AdvisorShares Investments LLC now owns 48,300 shares of the company’s stock worth $280,000 after acquiring an additional 1,977 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in GH Research by 14.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 106,363 shares of the company’s stock valued at $617,000 after acquiring an additional 13,579 shares during the last quarter. RTW Investments LP grew its position in shares of GH Research by 53.4% in the 3rd quarter. RTW Investments LP now owns 3,327,129 shares of the company’s stock valued at $33,438,000 after acquiring an additional 1,158,172 shares during the period. Finally, Lynx1 Capital Management LP grew its position in shares of GH Research by 13.8% in the 3rd quarter. Lynx1 Capital Management LP now owns 1,103,178 shares of the company’s stock valued at $11,087,000 after acquiring an additional 133,804 shares during the period. 56.90% of the stock is currently owned by institutional investors.

About GH Research

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).