Canaccord Genuity Increases Guardant Health (NASDAQ:GH) Price Target to $170.00


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Guardant Health (NASDAQ:GH) had its target price increased by research analysts at Canaccord Genuity from $145.00 to $170.00 in a note issued to investors on Tuesday, The Fly reports. Canaccord Genuity’s target price would indicate a potential upside of 6.68% from the stock’s current price.

Several other research firms have also recently weighed in on GH. JPMorgan Chase & Co. boosted their price objective on shares of Guardant Health from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, November 6th. Morgan Stanley boosted their price objective on shares of Guardant Health from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, November 9th. William Blair reissued an “outperform” rating on shares of Guardant Health in a report on Thursday, November 12th. Smith Barney Citigroup boosted their price objective on shares of Guardant Health from $145.00 to $155.00 in a report on Wednesday, December 16th. Finally, Stifel Nicolaus assumed coverage on shares of Guardant Health in a report on Monday. They set a “buy” rating and a $175.00 price objective for the company. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Guardant Health presently has a consensus rating of “Buy” and an average price target of $140.91.

Shares of NASDAQ GH opened at $159.36 on Tuesday. The firm’s 50 day moving average price is $128.69 and its 200-day moving average price is $105.13. The company has a market cap of $15.93 billion, a PE ratio of -83.43 and a beta of 0.58. Guardant Health has a 52-week low of $55.90 and a 52-week high of $163.42.

Guardant Health (NASDAQ:GH) last issued its earnings results on Thursday, November 5th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.44). The firm had revenue of $74.66 million during the quarter, compared to the consensus estimate of $65.99 million. Guardant Health had a negative return on equity of 19.22% and a negative net margin of 67.14%. The company’s quarterly revenue was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.14) EPS. As a group, equities research analysts forecast that Guardant Health will post -2.05 earnings per share for the current year.

In other news, Director Samir Kaul sold 10,000 shares of the stock in a transaction on Friday, October 16th. The shares were sold at an average price of $101.88, for a total value of $1,018,800.00. Following the completion of the sale, the director now directly owns 4,059 shares of the company’s stock, valued at $413,530.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stanley J. Meresman sold 4,934 shares of the stock in a transaction on Monday, January 11th. The stock was sold at an average price of $142.00, for a total transaction of $700,628.00. Following the completion of the sale, the director now directly owns 8,993 shares of the company’s stock, valued at $1,277,006. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,721 shares of company stock valued at $8,298,336. 9.90% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Guardant Health by 51.4% during the second quarter. Vanguard Group Inc. now owns 6,319,265 shares of the company’s stock worth $512,681,000 after acquiring an additional 2,144,771 shares during the last quarter. Morgan Stanley boosted its position in shares of Guardant Health by 5.6% during the third quarter. Morgan Stanley now owns 6,310,578 shares of the company’s stock worth $705,397,000 after acquiring an additional 335,960 shares during the last quarter. BlackRock Inc. boosted its position in shares of Guardant Health by 9.0% during the third quarter. BlackRock Inc. now owns 4,985,750 shares of the company’s stock worth $557,306,000 after acquiring an additional 411,884 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Guardant Health by 91.0% during the second quarter. Nuveen Asset Management LLC now owns 2,997,757 shares of the company’s stock worth $243,208,000 after acquiring an additional 1,428,318 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Guardant Health by 2.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,083,338 shares of the company’s stock worth $121,095,000 after acquiring an additional 26,545 shares during the last quarter. 76.15% of the stock is owned by hedge funds and other institutional investors.

Guardant Health Company Profile

Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers liquid biopsy tests for advanced stage cancer, such as Guardant360, a molecular diagnostic test that measures various cancer-related genes; and GuardantOMNI, a broader gene panel, including genes associated with homologous recombination repair deficiency and biomarkers for immuno-oncology applications.

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