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GH Research PLC (GHRS) fair value: what the stock is really worth

As of Oct 23, 2026: fair value (intrinsic value) of GH Research PLC stock $4.04, price $18.07, upside -77.6%, quality 44 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with one Yes, for free

Healthcare · US · Based in Ireland · ISIN IE000GID8VI0

GR GH Research PLC logo Thin data Oct 24, 2026

GH Research PLC

GHRS · US

Weakest SetupStrongly overvalued and low quality.

Our calculation puts a fair price 78% below what the stock costs today.

Quality 44/100
Mixed vs. peers (4/7)
Fair value $4.04 · Strongly overvalued (−77.6%)
Negative free cash flow
Narrow moat 10/100 · thin data
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$30.64 $5.26 Fair Value $4.04 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 24, 2026.

How to read this chart

60‑month range $5.26 – $30.64 · fair‑value band $2.67 – $5.05 · the $18.07 price screens above the $4.04 fair value. Dashed = 300-day average. As of Oct 24, 2026.

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Company profile

GH Research PLC, together with its subsidiary, operates a clinical-stage biopharmaceutical company that develops treatments for depression in the United States.

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The company's lead product candidate is GH001, an inhalable mebufotenin product candidate that is in Phase 2b clinical trial for treating patients with treatment-resistant depression and in Phase 2a clinical trials for treating bipolar II disorder and postpartum depression.

It also develops GH002, an intravenous mebufotenin product candidate, which is in phase 1 clinical pharmacology trial in healthy volunteers focusing on psychiatric and neurological disorders. The company was founded in 2018 and is based in Dublin, Ireland.

Stock analysis

GH Research PLC (GHRS) currently trades at $18.07, while our model-based Fair Value estimate is $4.04, 77.6% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: $2.67 (bear) to $5.05 (bull), the price of $18.07 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 44/100 (below-average quality), in the Healthcare sector.

GH Research PLC reported revenue of $0 in FY2025 versus $0 in FY2021. Reported net income was −$48.3M in FY2025.

Key figures

Market cap $1.4B Small · EPS (TTM) $−0.9900 · Return on equity −18.8% · Return on assets (EBIT) −16.7% · Free cash flow −$43.7M · Net cash $246M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 10 out of 100 (low confidence).

What moves the price

The share trades about 41% below its 52-week high and 45% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 2% fair-value upside, at −78%, GHRS screens richer than that median.

Fair Value models

Bear $2.67 Fair Value $4.04 Bull $5.05
Price $18.07 · Upside -77.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
NCAV (Graham) $2.67 $4.04 $5.05 52
All 1 models by family
Asset-Based
NCAV (Graham) $2.67 $4.04 $5.05 52

Open the full fair value analysis →

Quality Score breakdown

Overall quality 44/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 70
Are margins and returns getting better?
Cashflow 27
Do the profits arrive as real cash?
Financial strength 100
Debt, balance sheet and risk of trouble
Investment 80
Does it invest with discipline instead of growing at any price?
Low Volatility 18
How calm the share price moves, does not count
Momentum 44
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 55
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

GHRS screens overvalued: fair value 78% below the price. Compare with Vertex Pharmaceuticals Incorporated →

Compare GH Research PLC with another stock

Price, fair value, quality and upside side by side.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 592 stocks

Beats the industry median on 3/6 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 44 · Above median
Fair Value upside −77.6% · Bottom 25%
Profitability
Return on assets −16.7% · Below median
Operating margin (12 months) 0.0% · Above median
Growth and dividend
Revenue growth (quarter YoY) 0.0% · Above median

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 5.18× · Priciest 25%

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Regeneron Pharmaceuticals, Inc REGN $805.02 $1,275 +58% vs GHRS
Vertex Pharmaceuticals Incorporated VRTX $535.17 $588.69 +10% vs GHRS
Samsung Biologics Co 207940 1,466,000 KRW 1,612,600 KRW +10% vs GHRS
WuXi Biologics (Cayman) Inc 2269 HK$45.80 HK$50.38 +10% vs GHRS
argenx SE ARGX $890.05 $908.40 +2% vs GHRS
Alnylam Pharmaceuticals, Inc ALNY $225.10 $217.88 −3% vs GHRS
CSL Limited CSL A$196.70 A$178.56 −9% vs GHRS
BeOne Medicines AG 6160 HK$231.40 HK$153.62 −34% vs GHRS
Celltrion, Inc 068270 197,600 KRW 74,944 KRW −62% vs GHRS
Royalty Pharma plc RPRX $62.15 $19.01 −69% vs GHRS

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GH Research PLC · Fair Value
$4.04 −78%Fair Value
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Cite: Fair Value Calculator (2026). "GH Research PLC Fair Value". https://www.fairvalue-calculator.com/stock/GHRS

Frequently asked questions

Is GH Research PLC (GHRS) overvalued or undervalued?
As of Oct 24, 2026, our model estimates a fair value of $4.04 versus a price of $18.07, about −78% upside (overvalued).
What is the fair value of GHRS?
Our model-based fair value for GH Research PLC is $4.04 (as of Oct 24, 2026), built from audited fundamentals. The current price: $18.07.
What is the quality score of GHRS?
GH Research PLC has a Quality Score of 44/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for GH Research PLC (GHRS)?
Our model-based price target is the fair value of $4.04 (as of Oct 24, 2026) from 1 valuation models. Cautious scenario $2.67, optimistic scenario $5.05. It is a calculation from audited fundamentals, not an analyst target.
What is the GH Research PLC stock forecast for 2026?
Our models put fair value at $4.04, about −78% upside versus a price of $18.07 (overvalued). Cautious scenario $2.67, optimistic scenario $5.05. The calculation is refreshed regularly with new filings.
What is the intrinsic value of GH Research PLC (GHRS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For GH Research PLC it is $4.04 per share (as of Oct 24, 2026), against a price of $18.07. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is GH Research PLC stock overvalued or undervalued in 2026?
As of Oct 24, 2026, GHRS trades above its calculated fair value: price $18.07, fair value $4.04, a gap of about −78% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of GHRS?
No. The price is what the market pays today ($18.07); the fair value is what the company's own numbers justify ($4.04). For GH Research PLC the two are $14.03 per share apart. That gap is exactly why we show both numbers side by side.
How much is GH Research PLC worth?
The market values GH Research PLC at about $1.4B (market capitalisation, as of Oct 24, 2026). Per share that is $18.07; our models calculate a fair value of $4.04 per share.
What do the bullish and bearish scenarios say about GHRS?
Our models span a range for GH Research PLC: cautious scenario $2.67, base $4.04, optimistic $5.05 per share (as of Oct 24, 2026, price $18.07). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of GH Research PLC (GHRS)?
Balance-sheet figures for GH Research PLC (as of Oct 24, 2026): return on equity −18.8%. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is GHRS from its 52-week high?
GH Research PLC trades at $18.07, about 41% below its 52-week high of $30.64 and 45% above the low of $12.49 (as of Oct 23, 2026). Distance from the high says nothing about value: that is what the fair value of $4.04 is for.
Which stocks are comparable to GH Research PLC?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, CSL Limited, argenx SE, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is GH Research PLC stock attractive at the current price?
The data as of Oct 24, 2026: price $18.07, calculated fair value $4.04 (−78%), Quality Score 44/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of GHRS calculated?
We run GH Research PLC through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $4.04, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 12.3 % above its aggregate fair value. GH Research PLC itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of GH Research PLC (GHRS)?
The closing price on Oct 23, 2026 was $18.07. Our model-based fair value is $4.04, about −78% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with GH Research PLC right now?
The price sits above even our optimistic bull case ($5.05). The favourable scenario is already priced in. Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range ($2.67 to $5.05) leaves room in how you read the outcome.

Key figures of GH Research PLC

How large is the market capitalisation of GH Research PLC (GHRS)?
The market capitalisation of GH Research PLC is $1.4B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of GH Research PLC (GHRS)?
Earnings per share at GH Research PLC are $−0.9900. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of GH Research PLC (GHRS)?
The return on equity (ROE) of GH Research PLC is −18.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of GH Research PLC (GHRS)?
On an EBIT basis the return on assets of GH Research PLC is −16.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How much free cash flow does GH Research PLC (GHRS) generate?
The free cash flow of GH Research PLC is −$43.7M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does GH Research PLC (GHRS) hold?
GH Research PLC holds more cash than debt, $246M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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