Guardant Health (NASDAQ:GH) Price Target Raised to $56.00

Guardant Health (NASDAQ:GH) had its target price boosted by The Goldman Sachs Group from $49.00 to $56.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 31.34% from the company’s current price.

A number of other equities analysts have also recently commented on GH. JPMorgan Chase & Co. lifted 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. Raymond James reaffirmed an “outperform” rating and set a $59.00 price target (up from $39.00) on shares of Guardant Health in a research note on Friday. Guggenheim reaffirmed a “buy” rating on shares of Guardant Health in a research note on Wednesday, January 22nd. Sanford C. Bernstein dropped their price target on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Barclays initiated coverage on shares of Guardant Health in a research note on Thursday, January 23rd. They set an “overweight” rating and a $60.00 price target for the company. Eighteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $44.78.

Guardant Health Price Performance

Shares of Guardant Health stock traded down $4.76 during trading hours on Friday, reaching $42.64. The company’s stock had a trading volume of 2,764,364 shares, compared to its average volume of 2,474,979. The firm has a 50 day moving average price of $40.03 and a 200-day moving average price of $31.51. Guardant Health has a one year low of $15.81 and a one year high of $50.89. The stock has a market cap of $5.27 billion, a P/E ratio of -10.09 and a beta of 1.32.

Guardant Health (NASDAQ:GH) last posted its earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.15). Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The business had revenue of $201.81 million during the quarter, compared to the consensus estimate of $192.50 million. As a group, sell-side analysts forecast that Guardant Health will post -3.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Musa Tariq sold 2,320 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were 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 owns 2,676 shares of the company’s stock, valued at $93,660. This trade represents a 46.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 2,652 shares of company stock worth $93,192 in the last 90 days. 5.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GH. JNBA Financial Advisors acquired a new stake in Guardant Health during the third quarter valued at $26,000. R Squared Ltd acquired a new stake in shares of Guardant Health in the fourth quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Guardant Health in the third quarter valued at about $34,000. SBI Securities Co. Ltd. acquired a new stake in shares of Guardant Health in the fourth quarter valued at about $43,000. Finally, Kimelman & Baird LLC acquired a new stake in shares of Guardant Health in the fourth quarter valued at about $58,000. 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.