The Goldman Sachs Group Forecasts Strong Price Appreciation for Guardant Health (NASDAQ:GH) Stock

Guardant Health (NASDAQ:GH) had its price target increased by The Goldman Sachs Group from $49.00 to $56.00 in a research report report published on Friday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

GH has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their price target on shares of Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday. Stifel Nicolaus lifted their price objective on shares of Guardant Health from $45.00 to $53.00 and gave the company a “buy” rating in a report on Friday. Guggenheim reiterated a “buy” rating on shares of Guardant Health in a report on Wednesday, January 22nd. Raymond James reiterated an “outperform” rating and issued a $59.00 price objective (up from $39.00) on shares of Guardant Health in a report on Friday. Finally, Sanford C. Bernstein lowered their price objective on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Eighteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $44.78.

Guardant Health Trading Down 9.6 %

Shares of NASDAQ GH opened at $42.87 on Friday. The firm has a market capitalization of $5.30 billion, a PE ratio of -12.04 and a beta of 1.32. Guardant Health has a 1 year low of $15.81 and a 1 year high of $50.89. The firm’s 50-day moving average is $40.19 and its 200-day moving average is $31.57.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.15). Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. The firm had revenue of $201.81 million for the quarter, compared to the consensus estimate of $192.50 million. As a group, equities research analysts anticipate that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Musa Tariq sold 2,320 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $35.00, for a total value of $81,200.00. Following the completion of the sale, the director now owns 2,676 shares of the company’s stock, valued at approximately $93,660. The trade was a 46.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders 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 company insiders.

Institutional Investors Weigh In On Guardant Health

A number of institutional investors have recently modified their holdings of the business. R Squared Ltd bought a new stake in Guardant Health during the fourth quarter worth about $26,000. JNBA Financial Advisors bought a new position in shares of Guardant Health in the third quarter worth about $26,000. SBI Securities Co. Ltd. bought a new position in shares of Guardant Health in the fourth quarter worth about $43,000. Ashton Thomas Securities LLC bought a new position in shares of Guardant Health in the third quarter worth about $34,000. Finally, Kimelman & Baird LLC bought a new position in shares of Guardant Health in the fourth quarter worth about $58,000. 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.