Stifel Nicolaus Raises Guardant Health (NASDAQ:GH) Price Target to $53.00

Guardant Health (NASDAQ:GH) had its target price hoisted by stock analysts at Stifel Nicolaus from $45.00 to $53.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 23.63% from the company’s current price.

Several other equities research analysts have also recently weighed in on GH. The Goldman Sachs Group upped their price target on Guardant Health from $36.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Barclays assumed coverage on Guardant Health in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 price target on the stock. Sanford C. Bernstein reduced their price target on Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Guggenheim reaffirmed a “buy” rating on shares of Guardant Health in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. upped their price target on Guardant Health from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Eighteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $44.78.

Guardant Health Stock Performance

GH opened at $42.87 on Friday. Guardant Health has a 52-week low of $15.81 and a 52-week high of $50.89. The stock has a market capitalization of $5.30 billion, a PE ratio of -12.04 and a beta of 1.32. The stock’s 50 day moving average price is $40.19 and its 200-day moving average price is $31.59.

Guardant Health (NASDAQ:GH) last posted its earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share (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 business had revenue of $201.81 million for the quarter, compared to analysts’ expectations of $192.50 million. Research analysts forecast that Guardant Health will post -2.9 EPS for the current fiscal year.

Insider Activity

In other Guardant Health news, Director Musa Tariq sold 2,320 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $35.00, for a total value of $81,200.00. Following the transaction, the director now owns 2,676 shares of the company’s stock, valued at approximately $93,660. This represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 2,768 shares of company stock valued at $98,798 over the last ninety days. 5.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC bought a new position in Guardant Health in the third quarter valued at about $15,624,000. Guyasuta Investment Advisors Inc. purchased a new stake in Guardant Health in the fourth quarter worth about $206,000. Cerity Partners LLC increased its position in Guardant Health by 54.6% in the third quarter. Cerity Partners LLC now owns 195,008 shares of the company’s stock worth $4,473,000 after buying an additional 68,883 shares in the last quarter. Geode Capital Management LLC increased its position in Guardant Health by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company’s stock worth $64,754,000 after buying an additional 29,686 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in Guardant Health in the fourth quarter worth about $377,000. Institutional investors own 92.60% of the company’s stock.

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.