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Data-driven stock valuation

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

We calculate from audited financials what GH Research PLC is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.

  1. Compare price with fair valuebelow fair value = cheap, above = expensive
  2. Check the quality50 and up solid, 75 and up strong
  3. Watch it or check another stockalert when fair value or trend changes

Healthcare · US · Market cap $2.0B · ISIN IE000GID8VI0

At a glance

GR GH Research PLC logo GH Research PLC GHRS · US
Price$27.56
Fair Value$4.04
Upside−85.3%
Quality43/100

Below-average quality, and trading another 582% above our fair value of $4.04.

As of Sep 8, 2026, the fair value of GH Research PLC is $4.04 per share against a price of $27.56, so the fair value sits 85% below the price. A model estimate from reported figures, not an analyst target.

!Thin margins · 0.0% net margin
!negative free cash flow
!Mixed vs. peers (4/8)
!Narrow moat 10/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range $2.67 to $5.05

Fair value as of: Sep 8, 2026

From 1 valuation models · updated 2 days ago

Share price −6.7% over the past month.

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What runs behind every stock

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

What matters now

  • The price sits above even our optimistic bull case ($5.05). The favourable scenario is already priced in.
  • Weak quality (43/100) 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.

Price vs Fair Value (5 years)

$30.64 $5.26 Fair Value $4.04 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 8, 2026.

How to read this chart

60‑month range $5.26 – $30.64 · fair‑value band $2.67 – $5.05 · the $27.56 price screens above the $4.04 fair value. Dashed = 300-day average. As of Sep 8, 2026.

Full chart & analysis →

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Analysis

GH Research PLC (GHRS) currently trades at $27.56, while our model-based Fair Value estimate is $4.04, implying the stock looks roughly 582.1% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Healthcare sector. How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

It earns a return on equity of −19.7%. The balance sheet holds a net cash position of $246M. Fundamentals as of Sep 8, 2026

Scenario range: $2.67 (bear) to $5.05 (bull), the price of $27.56 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades near its 52-week high and 143% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −49% fair-value upside, at −85%, GHRS screens richer than that median.

Fair Value models

Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →

Model 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. Evidence
Highest evidence
NCAV (Graham) best evidence $2.04 $2.73 $4.07 51
All 1 models by family
Asset-Based
NCAV (Graham) best evidence $2.04 $2.73 $4.07 51

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Key figures & financial health

EPS (TTM) $−0.9100
Return on equity −19.7% TTM
Return on assets (EBIT) −16.7% avg 5y
Free cash flow −$43.7M FY2025
Net cash $246M FY2025

Figures from reported company fundamentals · as of Sep 8, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 46 · Market factors (momentum, volatility) 73

Profitability 0
Margins and returns on capital today
Quality Growth 70
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 20
Calm price path (market factor)
Momentum 98
Price trend over the last 3–12 months (market factor)
52W Momentum 90
Distance to the 52-week high (market factor)
Net Issuance 13
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

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

Full company description

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

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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

Revenue
FY21 $0
FY22 $0
FY23 $0
FY24 $0
FY25 $0
Net income
FY21 −$9.2M
FY22 −$22.5M
FY23 −$35.6M
FY24 −$39.0M
FY25 −$48.3M

GHRS screens 582% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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Cite: Fair Value Calculator (2026). "GH Research PLC Fair Value". https://www.fairvalue-calculator.com/stock/GHRS

Peer Group

Biotechnology · 632 stocks

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.

Valuation
Quality Score 46 · Above median
Fair Value upside −86% · Bottom 25%
Profitability
Return on assets −13% · Below median
Net margin (TTM) 0% · Above median
Operating margin (TTM) 0% · Above median
Growth and dividend
Revenue growth 0% · Above median

Valuation Multiples vs Biotechnology median · lower = cheaper

P/B 7.24× · 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 (as of Sep 8, 2026).

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $546.12 $278.78 −49%
Regeneron Pharmaceuticals, Inc REGN $827.72 $594.40 −28%
argenx SE ARGX €877.60 €292.84 −67%
BeOne Medicines AG 688235 ¥271.00 ¥47.36 −83%
Samsung Biologics Co 207940 1,452,000 KRW 1,055,793 KRW −27%
CSL Limited CSL A$174.50 A$141.68 −19%
Alnylam Pharmaceuticals, Inc ALNY $228.61 $51.70 −77%
Royalty Pharma plc RPRX $60.58 $24.22 −60%
Celltrion, Inc 068270 190,700 KRW 74,519 KRW −61%
BioNTech SE 22UA €80.60 €52.92 −34%

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Frequently asked questions

Is GH Research PLC (GHRS) overvalued or undervalued?
As of Sep 8, 2026, our model estimates a fair value of $4.04 versus a price of $27.56, about −85% upside (overvalued).
What is the fair value of GHRS?
Our model-based fair value for GH Research PLC is $4.04 (as of Sep 8, 2026), built from audited fundamentals. The current price: $27.56.
What is the quality score of GHRS?
GH Research PLC has a Quality Score of 43/100. 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 Sep 8, 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 −85% upside versus a price of $27.56 (overvalued). Cautious scenario $2.67, optimistic scenario $5.05. The calculation is refreshed regularly with new filings.
What is the net profit margin of GHRS?
The net profit margin of GH Research PLC is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.
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 Sep 8, 2026), against a price of $27.56. 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 Sep 8, 2026, GHRS trades above its calculated fair value: price $27.56, fair value $4.04, a gap of about −85% (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 ($27.56); the fair value is what the company's own numbers justify ($4.04). For GH Research PLC the two are $23.52 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 $2.0B (market capitalisation, as of Sep 8, 2026). Per share that is $27.56; 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 Sep 8, 2026, price $27.56). 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 Sep 8, 2026): return on equity −18.8%. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is GHRS from its 52-week high?
GH Research PLC trades at $27.56, about 6% below its 52-week high of $25.94 and 143% above the low of $11.32 (as of Sep 8, 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, argenx SE, BeOne Medicines AG, 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 Sep 8, 2026: price $27.56, calculated fair value $4.04 (−85%), Quality Score 43/100, 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.
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