Guardant Health’s (GH) “Overweight” Rating Reiterated at Stephens

Guardant Health (NASDAQ:GH)‘s stock had its “overweight” rating reiterated by investment analysts at Stephens in a research note issued on Wednesday,Benzinga reports. They currently have a $55.00 target price on the stock. Stephens’ price target would indicate a potential upside of 18.22% from the stock’s current price.

Several other equities analysts also recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Guardant Health from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Morgan Stanley lifted their price target on Guardant Health from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Raymond James reissued an “outperform” rating and issued a $59.00 price objective (up previously from $39.00) on shares of Guardant Health in a report on Friday, February 21st. Stifel Nicolaus lifted their target price on shares of Guardant Health from $45.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Barclays began coverage on shares of Guardant Health in a report on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 target price on the stock. Twenty research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $48.95.

Guardant Health Price Performance

GH stock traded up $0.07 during midday trading on Wednesday, hitting $46.53. 389,600 shares of the stock traded hands, compared to its average volume of 2,136,523. Guardant Health has a 1-year low of $15.81 and a 1-year high of $50.89. The stock’s fifty day simple moving average is $44.20 and its 200-day simple moving average is $33.95. The firm has a market cap of $5.74 billion, a P/E ratio of -13.09 and a beta of 1.50.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $201.81 million during the quarter, compared to analyst estimates of $192.50 million. On average, research analysts predict that Guardant Health will post -2.9 earnings per share for the current year.

Institutional Trading of Guardant Health

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Guardant Health by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 12,052,551 shares of the company’s stock valued at $368,205,000 after purchasing an additional 350,606 shares during the period. Wellington Management Group LLP raised its stake in Guardant Health by 188.6% in the third quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company’s stock valued at $232,325,000 after buying an additional 6,618,785 shares in the last quarter. Deep Track Capital LP lifted its holdings in Guardant Health by 7.0% during the 4th quarter. Deep Track Capital LP now owns 6,419,566 shares of the company’s stock worth $196,118,000 after buying an additional 419,006 shares during the last quarter. Eventide Asset Management LLC boosted its position in shares of Guardant Health by 2.0% during the 3rd quarter. Eventide Asset Management LLC now owns 3,837,300 shares of the company’s stock worth $88,028,000 after acquiring an additional 76,762 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Guardant Health by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company’s stock valued at $64,754,000 after acquiring an additional 29,686 shares during 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.