Morgan Stanley Forecasts Strong Price Appreciation for Guardant Health (NASDAQ:GH) Stock

Guardant Health (NASDAQ:GH) had its target price lifted by equities researchers at Morgan Stanley from $42.00 to $52.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 32.25% from the company’s current price.

A number of other research analysts have also recently issued reports on GH. Canaccord Genuity Group raised their price target on shares of Guardant Health from $42.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Raymond James reissued an “outperform” rating and set a $59.00 price target (up from $39.00) on shares of Guardant Health in a research report on Friday, February 21st. The Goldman Sachs Group raised their price target on shares of Guardant Health from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Guggenheim reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Guardant Health in a research report on Monday, February 24th. Finally, Piper Sandler lifted 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. Twenty investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $48.40.

Guardant Health Trading Down 2.1 %

NASDAQ:GH opened at $39.32 on Thursday. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of -11.04 and a beta of 1.50. The firm has a fifty day simple moving average of $41.88 and a two-hundred day simple moving average of $32.32. Guardant Health has a 12 month low of $15.81 and a 12 month high of $50.89.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings data 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). The business had revenue of $201.81 million for the quarter, compared to analyst estimates of $192.50 million. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. Equities analysts predict that Guardant Health will post -2.9 earnings per share for the current fiscal 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 shares were sold at an average price of $35.00, for a total value of $81,200.00. Following the completion of the transaction, the director now owns 2,676 shares of the company’s stock, valued at $93,660. The trade was a 46.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 2,668 shares of company stock valued at $95,208. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Polar Asset Management Partners Inc. lifted its holdings in shares of Guardant Health by 1,902.2% in the 4th quarter. Polar Asset Management Partners Inc. now owns 454,500 shares of the company’s stock worth $13,885,000 after acquiring an additional 431,800 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Guardant Health in the 4th quarter worth approximately $79,000. Twinbeech Capital LP bought a new stake in shares of Guardant Health in the 4th quarter worth approximately $367,000. Two Sigma Advisers LP lifted its holdings in shares of Guardant Health by 96.7% in the 4th quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company’s stock worth $70,742,000 after acquiring an additional 1,138,300 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Guardant Health by 38.5% in the 4th quarter. Two Sigma Investments LP now owns 1,890,714 shares of the company’s stock worth $57,761,000 after acquiring an additional 525,368 shares during the last quarter. Hedge funds and other 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.