Canaccord Genuity Group Cuts GH Research (NASDAQ:GHRS) Price Target to $28.00

GH Research (NASDAQ:GHRS) had its price target reduced by Canaccord Genuity Group from $31.00 to $28.00 in a research report released on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other analysts have also issued reports on the stock. JMP Securities restated a “market outperform” rating and issued a $39.00 price target on shares of GH Research in a research note 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 Up 4.2 %

GHRS opened at $9.47 on Monday. The firm has a market capitalization of $492.72 million, a P/E ratio of -11.99 and a beta of 0.74. The firm’s 50 day moving average is $7.78 and its 200-day moving average is $10.34. GH Research has a 52-week low of $5.05 and a 52-week high of $14.99.

GH Research (NASDAQ:GHRS) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. Equities analysts expect that GH Research will post -0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GH Research

A hedge fund recently raised its stake in GH Research stock. RA Capital Management L.P. boosted its holdings in GH Research PLC (NASDAQ:GHRS) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 approximately 12.85% of GH Research worth $44,734,000 at the end of the most recent quarter. 56.90% of the stock is owned by institutional investors and hedge funds.

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).