Guardant Health’s (GH) Buy Rating Reiterated at BTIG Research

Guardant Health (NASDAQ:GH)‘s stock had its “buy” rating restated by equities research analysts at BTIG Research in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $195.00 price target on the stock. BTIG Research’s target price would indicate a potential upside of 18.61% from the company’s previous close.

Other analysts also recently issued research reports about the company. Canaccord Genuity Group lifted their target price on Guardant Health from $135.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Mizuho upped their price target on shares of Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Sanford C. Bernstein increased their price objective on Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. Piper Sandler raised their target price on shares of Guardant Health from $135.00 to $193.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. boosted their price target on Guardant Health from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.78.

Guardant Health Stock Up 3.4%

Shares of GH stock opened at $164.41 on Wednesday. The firm has a fifty day moving average of $158.77 and a 200-day moving average of $121.64. The company has a market capitalization of $22.06 billion, a price-to-earnings ratio of -47.11 and a beta of 1.57. Guardant Health has a 12-month low of $53.40 and a 12-month high of $176.58.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.34. The firm had revenue of $334.98 million during the quarter, compared to analyst estimates of $314.23 million. The business’s revenue for the quarter was up 44.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.44) EPS. On average, equities analysts expect that Guardant Health will post -2.98 EPS for the current year.

Insider Activity

In other Guardant Health news, insider Chris Freeman sold 63,605 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $169.58, for a total transaction of $10,786,135.90. Following the sale, the insider owned 65,374 shares of the company’s stock, valued at approximately $11,086,122.92. The trade was a 49.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ian T. Clark sold 14,180 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $158.92, for a total transaction of $2,253,485.60. Following the transaction, the director owned 2,975 shares of the company’s stock, valued at $472,787. This trade represents a 82.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 538,318 shares of company stock valued at $81,232,073. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Guardant Health

Several large investors have recently bought and sold shares of the company. Elyxium Wealth LLC acquired a new position in shares of Guardant Health in the fourth quarter valued at approximately $35,000. Parallel Advisors LLC boosted its position in Guardant Health by 164.7% during the 4th quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock worth $36,000 after buying an additional 219 shares during the period. Ascentis Independent Advisors acquired a new stake in Guardant Health during the 1st quarter worth approximately $38,000. Hollencrest Capital Management bought a new stake in Guardant Health during the 1st quarter worth approximately $41,000. Finally, EFG International AG bought a new stake in Guardant Health during the 4th quarter worth approximately $41,000. 92.60% of the stock is currently owned by institutional investors.

About Guardant Health

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.