Guardant Health (NASDAQ:GH) Given New $55.00 Price Target at JPMorgan Chase & Co.

Guardant Health (NASDAQ:GH) had its price objective hoisted by JPMorgan Chase & Co. from $50.00 to $55.00 in a report released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages also recently issued reports on GH. Barclays started coverage on Guardant Health in a report on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 price target for the company. Stifel Nicolaus increased their price target on Guardant Health from $45.00 to $53.00 and gave the company a “buy” rating in a report on Friday. Guggenheim reiterated a “buy” rating on shares of Guardant Health in a report on Wednesday, January 22nd. The Goldman Sachs Group increased their price target on Guardant Health from $36.00 to $49.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, Sanford C. Bernstein decreased their price objective on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Eighteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $44.78.

Guardant Health Stock Down 9.6 %

GH stock opened at $42.87 on Friday. The company has a market cap of $5.30 billion, a price-to-earnings ratio of -10.11 and a beta of 1.32. The business has a fifty day simple moving average of $40.19 and a 200-day simple moving average of $31.59. Guardant Health has a 52 week low of $15.81 and a 52 week high of $50.89.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.15). Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. The company had revenue of $201.81 million during the quarter, compared to analyst estimates of $192.50 million. As a group, analysts expect that Guardant Health will post -3.39 earnings per share for the current fiscal year.

Insider Transactions at Guardant Health

In other Guardant Health news, Director Musa Tariq sold 2,320 shares of Guardant Health stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $35.00, for a total value of $81,200.00. Following the completion of the transaction, the director now directly owns 2,676 shares in the company, valued at $93,660. The trade was a 46.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 2,768 shares of company stock valued at $98,798. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

Several institutional investors have recently made changes to their positions in GH. Wellington Management Group LLP grew its stake in Guardant Health by 188.6% during the 3rd quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company’s stock worth $232,325,000 after buying an additional 6,618,785 shares during the last quarter. Norges Bank bought a new position in Guardant Health during the 4th quarter worth $36,438,000. Two Sigma Advisers LP grew its stake in Guardant Health by 96.7% during the 4th quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company’s stock worth $70,742,000 after buying an additional 1,138,300 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Guardant Health by 1,282.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company’s stock worth $28,128,000 after buying an additional 1,137,482 shares during the last quarter. Finally, ARK Investment Management LLC grew its stake in Guardant Health by 233.5% during the 3rd quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company’s stock worth $34,701,000 after buying an additional 1,059,104 shares during the last quarter. 92.60% of the stock is owned by institutional investors.

Guardant Health Company Profile

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.