GH Research (NASDAQ:GHRS) Trading Down 7.4% – Here’s What Happened

GH Research PLC (NASDAQ:GHRS) shares dropped 7.4% on Friday . The company traded as low as $11.34 and last traded at $11.34. Approximately 24,727 shares were traded during trading, a decline of 95% from the average daily volume of 511,182 shares. The stock had previously closed at $12.25.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GHRS shares. Cantor Fitzgerald assumed coverage on shares of GH Research in a research note on Thursday, February 13th. They issued an “overweight” rating and a $14.00 price objective on the stock. Guggenheim initiated coverage on GH Research in a research note on Thursday, March 13th. They set a “buy” rating and a $32.00 price objective for the company. Stifel Nicolaus raised their target price on GH Research from $18.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of GH Research in a research note on Monday, January 27th. Finally, Royal Bank of Canada began coverage on shares of GH Research in a research note on Friday, March 7th. They set an “outperform” rating and a $31.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $30.86.

GH Research Stock Down 9.7 %

The business’s fifty day moving average is $11.76 and its 200 day moving average is $9.35. The firm has a market capitalization of $575.43 million, a price-to-earnings ratio of -14.00 and a beta of 0.94.

GH Research (NASDAQ:GHRS) last released its earnings results on Thursday, February 27th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.06. Equities research analysts expect that GH Research PLC will post -0.8 EPS for the current year.

Hedge Funds Weigh In On GH Research

Large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets bought a new stake in GH Research in the 4th quarter valued at $44,000. Two Sigma Investments LP bought a new stake in shares of GH Research during the 4th quarter worth approximately $117,000. Millennium Management LLC acquired a new stake in shares of GH Research in the 4th quarter valued at $145,000. AdvisorShares Investments LLC grew its position in GH Research by 15.4% in the fourth quarter. AdvisorShares Investments LLC now owns 36,011 shares of the company’s stock valued at $252,000 after acquiring an additional 4,806 shares during the last quarter. Finally, Northern Trust Corp increased its position in GH Research by 26.8% during the 4th quarter. Northern Trust Corp now owns 40,834 shares of the company’s stock worth $286,000 after purchasing an additional 8,641 shares in the last quarter. 56.90% of the stock is owned by 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).