Guggenheim Reaffirms Buy Rating for Guardant Health (NASDAQ:GH)

Guardant Health (NASDAQ:GH)‘s stock had its “buy” rating reiterated by equities researchers at Guggenheim in a research note issued on Monday,Benzinga reports. They presently have a $56.00 target price on the stock. Guggenheim’s price objective would suggest a potential upside of 30.22% from the company’s current price.

GH has been the subject of a number of other reports. The Goldman Sachs Group upped their price objective on Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday. Sanford C. Bernstein lowered their price target on Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Barclays initiated coverage on shares of Guardant Health in a report on Thursday, January 23rd. They set an “overweight” rating and a $60.00 price objective on the stock. Stifel Nicolaus lifted their price target on shares of Guardant Health from $45.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Raymond James reissued an “outperform” rating and issued a $59.00 price objective (up from $39.00) on shares of Guardant Health in a research note on Friday. Nineteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $47.37.

Guardant Health Price Performance

Shares of Guardant Health stock traded up $0.13 on Monday, reaching $43.00. 431,493 shares of the company were exchanged, compared to its average volume of 2,498,636. The stock’s 50 day moving average price is $40.19 and its 200-day moving average price is $31.57. Guardant Health has a 1-year low of $15.81 and a 1-year high of $50.89. The company has a market cap of $5.31 billion, a P/E ratio of -12.11 and a beta of 1.32.

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 firm had revenue of $201.81 million for 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%. On average, research analysts predict that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Musa Tariq sold 2,320 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $35.00, for a total transaction of $81,200.00. Following the completion of the sale, the director now directly owns 2,676 shares of the company’s stock, valued at approximately $93,660. This trade represents a 46.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 2,768 shares of company stock valued at $98,798 in the last three months. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Guardant Health

Several large investors have recently modified their holdings of the business. GF Fund Management CO. LTD. purchased a new stake in Guardant Health during the 4th quarter worth approximately $79,000. Twinbeech Capital LP bought a new stake in shares of Guardant Health in the 4th quarter valued at approximately $367,000. Two Sigma Advisers LP raised its position in shares of Guardant Health by 96.7% during the 4th quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company’s stock valued at $70,742,000 after acquiring an additional 1,138,300 shares in the last quarter. Two Sigma Investments LP lifted its stake in Guardant Health by 38.5% during the fourth quarter. Two Sigma Investments LP now owns 1,890,714 shares of the company’s stock worth $57,761,000 after purchasing an additional 525,368 shares during the last quarter. Finally, Tema Etfs LLC bought a new position in shares of Guardant Health in the 4th quarter worth about $1,103,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.