Barclays Cuts Guardant Health (NASDAQ:GH) Price Target to $55.00

Guardant Health (NASDAQ:GH) had its target price decreased by Barclays from $60.00 to $55.00 in a research note issued to investors on Thursday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other analysts have also commented on GH. Scotiabank increased their target price on shares of Guardant Health from $47.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Monday, February 24th. Piper Sandler lifted their target price on Guardant Health from $34.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Canaccord Genuity Group increased their price target on Guardant Health from $42.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Morgan Stanley boosted their price objective on Guardant Health from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Finally, Mizuho initiated coverage on shares of Guardant Health in a report on Thursday. They set an “outperform” rating and a $55.00 price target on the stock. Twenty-one research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $49.00.

Guardant Health Stock Down 6.2 %

Shares of GH opened at $41.14 on Thursday. Guardant Health has a 52-week low of $15.81 and a 52-week high of $50.89. The firm has a market capitalization of $5.08 billion, a PE ratio of -11.56 and a beta of 1.45. The firm has a 50-day moving average price of $43.64 and a 200 day moving average price of $35.54.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.15). The firm had revenue of $201.81 million during 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%. On average, equities analysts expect that Guardant Health will post -2.9 EPS for the current year.

Institutional Investors Weigh In On Guardant Health

A number of institutional investors have recently bought and sold shares of GH. NewEdge Advisors LLC lifted its holdings in shares of Guardant Health by 13.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock worth $59,000 after acquiring an additional 230 shares during the period. Summit Investment Advisors Inc. grew its stake in shares of Guardant Health by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company’s stock valued at $377,000 after purchasing an additional 391 shares during the period. Arizona State Retirement System raised its stake in Guardant Health by 1.1% during the fourth quarter. Arizona State Retirement System now owns 35,639 shares of the company’s stock worth $1,089,000 after acquiring an additional 403 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Guardant Health by 43.5% in the fourth quarter. Jones Financial Companies Lllp now owns 2,696 shares of the company’s stock valued at $82,000 after acquiring an additional 817 shares during the last quarter. Finally, Fiduciary Alliance LLC increased its holdings in Guardant Health by 7.6% during the 4th quarter. Fiduciary Alliance LLC now owns 11,879 shares of the company’s stock valued at $363,000 after purchasing an additional 836 shares in the last quarter. Institutional investors and hedge funds 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.