Guardant Health (NASDAQ:GH) Price Target Raised to $60.00

Guardant Health (NASDAQ:GH) had its price objective lifted by Canaccord Genuity Group from $42.00 to $60.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. increased their price target on Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Sanford C. Bernstein cut their target price on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Barclays began coverage on shares of Guardant Health in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 price target for the company. Guggenheim reiterated a “buy” rating on shares of Guardant Health in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group raised their price objective on shares of Guardant Health from $49.00 to $56.00 and gave the company a “buy” rating in a report on Friday, February 21st. Nineteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $48.21.

Guardant Health Stock Up 7.0 %

Shares of GH opened at $43.19 on Monday. The company has a market cap of $5.33 billion, a P/E ratio of -12.13 and a beta of 1.32. Guardant Health has a fifty-two week low of $15.81 and a fifty-two week high of $50.89. The firm’s 50 day moving average price is $40.65 and its 200 day moving average price is $31.82.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.15). The business had revenue of $201.81 million during the quarter, compared to analyst estimates of $192.50 million. Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. Research analysts forecast that Guardant Health will post -2.9 earnings per share for the current year.

Insider Activity

In other news, Director Musa Tariq sold 2,320 shares of the business’s 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 transaction, the director now owns 2,676 shares of the company’s stock, valued at approximately $93,660. The trade was a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 2,768 shares of company stock valued at $98,798. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GH. R Squared Ltd purchased a new stake in Guardant Health during the fourth quarter worth about $26,000. JNBA Financial Advisors acquired a new position in Guardant Health in the 3rd quarter valued at $26,000. SBI Securities Co. Ltd. purchased a new position in shares of Guardant Health during the 4th quarter worth about $43,000. Ashton Thomas Securities LLC purchased a new position in shares of Guardant Health in the 3rd quarter worth $34,000. Finally, Kimelman & Baird LLC purchased a new position in Guardant Health in the fourth quarter valued at approximately $58,000. 92.60% of the stock is owned by hedge funds and other 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.