Guardant Health (NASDAQ:GH) Price Target Cut to $50.00 by Analysts at Leerink Partners

Guardant Health (NASDAQ:GH) had its price target lowered by Leerink Partners from $60.00 to $50.00 in a report published on Thursday, Benzinga reports. Leerink Partners currently has an outperform rating on the stock.

GH has been the topic of several other reports. Guggenheim raised shares of Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Friday, June 28th. Citigroup increased their price target on Guardant Health from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. TD Cowen upped their target price on Guardant Health from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Piper Sandler lifted their price target on shares of Guardant Health from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Finally, UBS Group boosted their price target on shares of Guardant Health from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $40.31.

Guardant Health Stock Up 3.4 %

Shares of GH opened at $21.38 on Thursday. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -5.45 and a beta of 1.11. Guardant Health has a 52 week low of $15.81 and a 52 week high of $37.04. The stock’s 50-day moving average price is $24.60 and its 200-day moving average price is $25.50. The company has a quick ratio of 6.07, a current ratio of 6.40 and a debt-to-equity ratio of 16.70.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.10). The company had revenue of $177.24 million during the quarter, compared to analysts’ expectations of $162.59 million. Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The company’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.67) EPS. On average, sell-side analysts predict that Guardant Health will post -3.31 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SWS Partners raised its holdings in shares of Guardant Health by 6.2% during the 3rd quarter. SWS Partners now owns 83,762 shares of the company’s stock worth $1,922,000 after acquiring an additional 4,905 shares during the period. Wesbanco Bank Inc. acquired a new stake in Guardant Health during the third quarter worth about $296,000. Exchange Traded Concepts LLC raised its stake in Guardant Health by 14.4% during the third quarter. Exchange Traded Concepts LLC now owns 41,009 shares of the company’s stock worth $941,000 after purchasing an additional 5,160 shares during the period. Green Alpha Advisors LLC boosted its holdings in Guardant Health by 23.6% in the 3rd quarter. Green Alpha Advisors LLC now owns 8,782 shares of the company’s stock valued at $201,000 after purchasing an additional 1,674 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in shares of Guardant Health by 14.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 27,141 shares of the company’s stock valued at $623,000 after buying an additional 3,500 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.