Sanford C. Bernstein Issues Pessimistic Forecast for Guardant Health (NASDAQ:GH) Stock Price

Guardant Health (NASDAQ:GH) had its price target cut by stock analysts at Sanford C. Bernstein from $40.00 to $35.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Sanford C. Bernstein’s price objective would indicate a potential upside of 59.96% from the stock’s current price.

GH has been the topic of a number of other research reports. Craig Hallum boosted their price objective on shares of Guardant Health from $28.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Bank of America increased their target price on shares of Guardant Health from $28.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Leerink Partners cut their target price on shares of Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. UBS Group boosted their price target on shares of Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, TD Cowen boosted their price target on shares of Guardant Health from $41.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Guardant Health presently has an average rating of “Moderate Buy” and an average price target of $40.00.

Guardant Health Stock Performance

Shares of GH stock opened at $21.88 on Wednesday. Guardant Health has a 12 month low of $15.81 and a 12 month high of $37.04. The company has a market cap of $2.68 billion, a P/E ratio of -5.58 and a beta of 1.11. The company has a current ratio of 6.40, a quick ratio of 6.07 and a debt-to-equity ratio of 16.70. The firm has a fifty day moving average price of $23.39 and a 200 day moving average price of $25.64.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Guardant Health by 21.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,449 shares of the company’s stock valued at $102,000 after acquiring an additional 796 shares during the last quarter. JNBA Financial Advisors bought a new position in shares of Guardant Health during the third quarter valued at about $26,000. Oak Ridge Investments LLC raised its stake in shares of Guardant Health by 8.5% during the first quarter. Oak Ridge Investments LLC now owns 18,540 shares of the company’s stock valued at $382,000 after acquiring an additional 1,451 shares during the last quarter. Quarry LP bought a new position in Guardant Health in the second quarter worth about $44,000. Finally, Green Alpha Advisors LLC raised its stake in Guardant Health by 23.6% in the third quarter. Green Alpha Advisors LLC now owns 8,782 shares of the company’s stock worth $201,000 after buying an additional 1,674 shares in the last quarter. 92.60% of the stock is currently 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.