Guardant Health, Inc. (NASDAQ:GH) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Guardant Health, Inc. (NASDAQ:GH) have earned an average recommendation of “Buy” from the twenty research firms that are covering the firm, Marketbeat reports. Twenty equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $48.40.

Several research analysts recently commented on the stock. Canaccord Genuity Group lifted their target price on shares of Guardant Health from $42.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Raymond James reissued an “outperform” rating and issued a $59.00 target price (up from $39.00) on shares of Guardant Health in a research note on Friday, February 21st. Stifel Nicolaus lifted their price objective on Guardant Health from $45.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Guggenheim restated a “buy” rating and set a $56.00 target price on shares of Guardant Health in a report on Monday, February 24th. Finally, Piper Sandler lifted their price target on shares of Guardant Health from $34.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th.

Guardant Health Price Performance

Shares of NASDAQ:GH opened at $46.46 on Wednesday. The company’s fifty day moving average price is $44.20 and its 200-day moving average price is $33.95. Guardant Health has a one year low of $15.81 and a one year high of $50.89. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of -13.05 and a beta of 1.50.

Guardant Health (NASDAQ:GH) last issued its 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 return on equity of 19,157.20% and a negative net margin of 59.05%. The firm had revenue of $201.81 million during the quarter, compared to analysts’ expectations of $192.50 million. As a group, equities research analysts expect that Guardant Health will post -2.9 EPS for the current year.

Institutional Investors Weigh In On Guardant Health

Several hedge funds and other institutional investors have recently made changes to their positions in GH. Intech Investment Management LLC purchased a new position in shares of Guardant Health during the 3rd quarter valued at about $754,000. Cerity Partners LLC lifted its position in shares of Guardant Health by 54.6% in the third quarter. Cerity Partners LLC now owns 195,008 shares of the company’s stock valued at $4,473,000 after acquiring an additional 68,883 shares in the last quarter. Advantage Alpha Capital Partners LP bought a new position in shares of Guardant Health in the third quarter worth about $343,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Guardant Health by 6.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,986 shares of the company’s stock valued at $665,000 after purchasing an additional 1,844 shares during the period. Finally, Verition Fund Management LLC grew its holdings in Guardant Health by 220.6% during the 3rd quarter. Verition Fund Management LLC now owns 37,641 shares of the company’s stock valued at $863,000 after buying an additional 25,900 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

About Guardant Health

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.