Canaccord Genuity Group Issues Positive Forecast for Guardant Health (NASDAQ:GH) Stock Price

Guardant Health (NASDAQ:GH) had its target price boosted by Canaccord Genuity Group from $42.00 to $60.00 in a research note issued to investors on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other research analysts have also issued reports on the stock. Guggenheim restated a “buy” rating on shares of Guardant Health in a report on Wednesday, January 22nd. Barclays initiated coverage on shares of Guardant Health in a research note on Thursday, January 23rd. They set an “overweight” rating and a $60.00 target price for the company. Raymond James restated an “outperform” rating and issued a $59.00 target price (up previously from $39.00) on shares of Guardant Health in a report on Friday. JPMorgan Chase & Co. increased their price target on Guardant Health from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday. Finally, The Goldman Sachs Group boosted their price objective on Guardant Health from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Friday. Nineteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Guardant Health has a consensus rating of “Buy” and an average price target of $47.37.

Guardant Health Price Performance

NASDAQ:GH opened at $42.44 on Monday. Guardant Health has a one year low of $15.81 and a one year high of $50.89. The company has a market cap of $5.24 billion, a PE ratio of -11.92 and a beta of 1.32. The firm’s 50 day simple moving average is $40.32 and its 200 day simple moving average is $31.66.

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

Insider Activity at Guardant Health

In other Guardant Health news, Director Musa Tariq sold 2,320 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was 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. The trade was a 46.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 2,768 shares of company stock valued at $98,798. 5.50% of the stock is owned by company insiders.

Institutional Trading of Guardant Health

Several institutional investors have recently made changes to their positions in GH. Wellington Management Group LLP grew its holdings in shares of Guardant Health by 188.6% in the third quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company’s stock valued at $232,325,000 after acquiring an additional 6,618,785 shares in the last quarter. Norges Bank bought a new stake in Guardant Health during the fourth quarter worth $36,438,000. Two Sigma Advisers LP boosted its position in Guardant Health by 96.7% in the fourth quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company’s stock worth $70,742,000 after purchasing an additional 1,138,300 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Guardant Health by 1,282.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company’s stock valued at $28,128,000 after purchasing an additional 1,137,482 shares during the period. Finally, ARK Investment Management LLC increased its position in shares of Guardant Health by 233.5% during the 3rd quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company’s stock valued at $34,701,000 after purchasing an additional 1,059,104 shares during the last quarter. Institutional investors own 92.60% of the company’s stock.

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.