Canaccord Genuity Group Has Lowered Expectations for GH Research (NASDAQ:GHRS) Stock Price

GH Research (NASDAQ:GHRS) had its price objective trimmed by Canaccord Genuity Group from $31.00 to $28.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on GHRS. JMP Securities reiterated a “market outperform” rating and set a $39.00 price objective on shares of GH Research in a report on Wednesday, September 4th. HC Wainwright restated a “buy” rating and issued a $40.00 price target on shares of GH Research in a research note on Thursday, September 5th.

GH Research Stock Down 12.1 %

Shares of GHRS opened at $9.62 on Monday. GH Research has a 12-month low of $5.05 and a 12-month high of $14.99. The stock’s fifty day simple moving average is $7.90 and its 200-day simple moving average is $10.33. The firm has a market capitalization of $500.53 million, a PE ratio of -12.18 and a beta of 0.74.

GH Research (NASDAQ:GHRS) last released its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. Analysts anticipate that GH Research will post -0.78 EPS for the current year.

Institutional Trading of GH Research

A hedge fund recently raised its stake in GH Research stock. Lynx1 Capital Management LP increased its position in shares of GH Research PLC (NASDAQ:GHRS) by 80.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,310,563 shares of the company’s stock after purchasing an additional 1,471,946 shares during the period. GH Research makes up about 9.1% of Lynx1 Capital Management LP’s portfolio, making the stock its 6th biggest holding. Lynx1 Capital Management LP owned approximately 6.36% of GH Research worth $35,291,000 at the end of the most recent reporting period. 56.90% of the stock is currently owned by hedge funds and other 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).