Leerink Partners Cuts Guardant Health (NASDAQ:GH) Price Target to $50.00

Guardant Health (NASDAQ:GH) had its price objective cut by Leerink Partners from $60.00 to $50.00 in a research report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms also recently weighed in on GH. Bank of America lifted their price target on shares of Guardant Health from $28.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. BTIG Research upped their price target on Guardant Health from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. raised their price objective on Guardant Health from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Craig Hallum upped their target price on Guardant Health from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Guggenheim upgraded Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Friday, June 28th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.31.

Guardant Health Stock Up 3.4 %

Shares of NASDAQ:GH opened at $21.38 on Thursday. The company has a debt-to-equity ratio of 16.70, a quick ratio of 6.07 and a current ratio of 6.40. Guardant Health has a 52-week low of $15.81 and a 52-week high of $37.04. The company has a market capitalization of $2.62 billion, a PE ratio of -5.45 and a beta of 1.11. The company has a fifty day moving average of $24.60 and a 200-day moving average of $25.47.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.10). The firm had revenue of $177.24 million during the quarter, compared to analyst estimates of $162.59 million. Guardant Health had a negative net margin of 76.23% and a negative return on equity of 418.21%. The business’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.67) EPS. On average, equities analysts predict that Guardant Health will post -3.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Guardant Health

Several large investors have recently modified their holdings of GH. Quarry LP purchased a new stake in Guardant Health during the 2nd quarter worth about $44,000. Manchester Capital Management LLC bought a new position in shares of Guardant Health in the first quarter valued at approximately $57,000. Canton Hathaway LLC purchased a new position in Guardant Health during the second quarter valued at approximately $59,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Guardant Health during the 2nd quarter worth approximately $71,000. Finally, EntryPoint Capital LLC purchased a new stake in Guardant Health in the 1st quarter worth approximately $75,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

About Guardant Health

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.