Canaccord Genuity Group Boosts Guardant Health (NASDAQ:GH) Price Target to $60.00

Guardant Health (NASDAQ:GH) had its price target upped by Canaccord Genuity Group from $42.00 to $60.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 39.96% from the stock’s current price.

Other analysts have also recently issued reports about the stock. The Goldman Sachs Group upped their price objective on shares of Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday. Barclays initiated coverage on 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 Guardant Health from $45.00 to $53.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on Guardant Health from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Guggenheim restated a “buy” rating on shares of Guardant Health in a research note on Wednesday, January 22nd. Eighteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $46.00.

Guardant Health Price Performance

Shares of GH stock opened at $42.87 on Monday. The stock’s fifty day simple moving average is $40.19 and its 200 day simple moving average is $31.57. Guardant Health has a one year low of $15.81 and a one year high of $50.89. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of -12.04 and a beta of 1.32.

Guardant Health (NASDAQ:GH) last issued 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. On average, research analysts anticipate that Guardant Health will post -2.9 earnings per share for the current year.

Insider Buying and Selling at Guardant Health

In other news, Director Musa Tariq sold 2,320 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $35.00, for a total transaction of $81,200.00. Following the completion of the transaction, the director now directly owns 2,676 shares in the company, valued at approximately $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 through this hyperlink. Over the last ninety days, insiders have sold 2,768 shares of company stock valued at $98,798. 5.50% of the stock is currently owned by insiders.

Institutional Trading of Guardant Health

A number of hedge funds have recently modified their holdings of GH. Wellington Management Group LLP raised its stake in Guardant Health by 188.6% during the 3rd quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company’s stock worth $232,325,000 after buying an additional 6,618,785 shares during the period. Norges Bank bought a new stake in shares of Guardant Health in the fourth quarter worth about $36,438,000. Two Sigma Advisers LP raised its position in shares of Guardant Health by 96.7% during the fourth quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company’s stock worth $70,742,000 after purchasing an additional 1,138,300 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Guardant Health by 1,282.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company’s stock valued at $28,128,000 after purchasing an additional 1,137,482 shares in the last quarter. Finally, ARK Investment Management LLC lifted its holdings in shares of Guardant Health by 233.5% during the 3rd quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company’s stock valued at $34,701,000 after purchasing an additional 1,059,104 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.