Guardant Health (NASDAQ:GH) Stock Price Expected to Rise, Piper Sandler Analyst Says

Guardant Health (NASDAQ:GH) had its price target hoisted by stock analysts at Piper Sandler from $34.00 to $50.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target indicates a potential upside of 18.74% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Guggenheim reiterated a “buy” rating and issued a $56.00 target price on shares of Guardant Health in a research report on Monday. Barclays assumed coverage on shares of Guardant Health in a research report on Thursday, January 23rd. They set an “overweight” rating and a $60.00 price target on the stock. Stifel Nicolaus lifted their price objective on shares of Guardant Health from $45.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Sanford C. Bernstein decreased their price objective on Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, Scotiabank lifted their price objective on shares of Guardant Health from $47.00 to $52.00 and gave the company a “sector outperform” rating in a report on Monday. Nineteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $48.21.

Guardant Health Stock Down 2.5 %

NASDAQ:GH opened at $42.11 on Wednesday. The stock’s 50 day moving average price is $40.87 and its two-hundred day moving average price is $31.89. Guardant Health has a twelve month low of $15.81 and a twelve month high of $50.89. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of -11.83 and a beta of 1.32.

Guardant Health (NASDAQ:GH) last posted its 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). Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. The firm had revenue of $201.81 million during the quarter, compared to analyst estimates of $192.50 million. As a group, analysts anticipate that Guardant Health will post -2.9 earnings per share for the current year.

Insider Buying and Selling

In other Guardant Health news, Director Musa Tariq sold 2,320 shares of the business’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 transaction, the director now owns 2,676 shares in the company, valued at $93,660. The trade was a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 2,768 shares of company stock valued at $98,798. 5.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Guardant Health

A number of hedge funds and other institutional investors have recently made changes to their positions in GH. Vanguard Group Inc. boosted its holdings in Guardant Health by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 12,052,551 shares of the company’s stock worth $368,205,000 after acquiring an additional 350,606 shares in the last quarter. Wellington Management Group LLP increased its holdings in 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 buying an additional 6,618,785 shares in the last quarter. Deep Track Capital LP raised its holdings in Guardant Health by 7.0% in the 4th quarter. Deep Track Capital LP now owns 6,419,566 shares of the company’s stock worth $196,118,000 after purchasing an additional 419,006 shares during the period. Eventide Asset Management LLC raised its stake in shares of Guardant Health by 2.0% during the 3rd quarter. Eventide Asset Management LLC now owns 3,837,300 shares of the company’s stock worth $88,028,000 after buying an additional 76,762 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Guardant Health by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company’s stock worth $64,754,000 after purchasing an additional 29,686 shares in 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.