Guardant Health (NASDAQ:GH) Price Target Raised to $56.00

Guardant Health (NASDAQ:GH) had its price objective hoisted by The Goldman Sachs Group from $49.00 to $56.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on GH. Sanford C. Bernstein dropped their price target 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. Raymond James reiterated an “outperform” rating and issued a $59.00 target price (up previously from $39.00) on shares of Guardant Health in a research report on Friday. Guggenheim restated a “buy” rating on shares of Guardant Health in a research report on Wednesday, January 22nd. Stifel Nicolaus raised their price target on shares of Guardant Health from $45.00 to $53.00 and gave the company a “buy” rating in a research note on Friday. Finally, Barclays began coverage on Guardant Health in a research note on Thursday, January 23rd. They set an “overweight” rating and a $60.00 price objective for the company. Eighteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $44.78.

Guardant Health Price Performance

NASDAQ GH opened at $42.87 on Friday. Guardant Health has a 1 year low of $15.81 and a 1 year high of $50.89. The company has a market capitalization of $5.30 billion, a PE ratio of -10.11 and a beta of 1.32. The company has a fifty day moving average of $40.19 and a 200 day moving average of $31.59.

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

Insider Buying and Selling at Guardant Health

In related news, Director Musa Tariq sold 2,320 shares of Guardant Health stock in a transaction that occurred on Friday, December 13th. The shares were 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 owns 2,676 shares in the company, valued at approximately $93,660. The trade was a 46.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 2,768 shares of company stock valued at $98,798 over the last quarter. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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