Guardant Health, Inc. (NASDAQ:GH) Receives $48.40 Consensus Target Price from Brokerages

Shares of Guardant Health, Inc. (NASDAQ:GH) have been assigned a consensus recommendation of “Buy” from the twenty brokerages that are currently covering the stock, Marketbeat Ratings reports. Twenty equities research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $48.95.

GH has been the topic of a number of recent research reports. Canaccord Genuity Group raised their price objective on Guardant Health from $42.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Stephens restated an “overweight” rating and issued a $55.00 price target on shares of Guardant Health in a research report on Wednesday. Piper Sandler upped their price objective on shares of Guardant Health from $34.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and set a $56.00 price objective on shares of Guardant Health in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, February 21st.

Institutional Trading of Guardant Health

Several hedge funds and other institutional investors have recently made changes to their positions in GH. R Squared Ltd bought a new stake in shares of Guardant Health in the fourth quarter worth $26,000. SBI Securities Co. Ltd. bought a new position in Guardant Health during the 4th quarter worth $43,000. Kimelman & Baird LLC acquired a new position in Guardant Health during the 4th quarter worth about $58,000. NewEdge Advisors LLC grew its position in shares of Guardant Health by 13.5% in the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock valued at $59,000 after buying an additional 230 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Guardant Health in the fourth quarter valued at about $61,000. 92.60% of the stock is currently owned by institutional investors.

Guardant Health Stock Performance

GH stock opened at $43.14 on Wednesday. Guardant Health has a 52 week low of $15.81 and a 52 week high of $50.89. The company has a market capitalization of $5.32 billion, a PE ratio of -12.12 and a beta of 1.50. The company’s 50-day simple moving average is $44.66 and its 200 day simple moving average is $34.24.

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

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.