Piper Sandler Forecasts Strong Price Appreciation for Guardant Health (NASDAQ:GH) Stock

Guardant Health (NASDAQ:GH) had its target price boosted by Piper Sandler from $34.00 to $50.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also commented on GH. Guggenheim reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Guardant Health in a report on Monday, February 24th. Canaccord Genuity Group upped their price target on shares of Guardant Health from $42.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, February 24th. 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. The Goldman Sachs Group increased their target price on shares of Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Sanford C. Bernstein cut their price target on Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Nineteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Guardant Health has a consensus rating of “Buy” and a consensus price target of $48.21.

Guardant Health Stock Performance

NASDAQ GH opened at $42.55 on Wednesday. Guardant Health has a 52-week low of $15.81 and a 52-week high of $50.89. The stock has a market cap of $5.25 billion, a PE ratio of -11.95 and a beta of 1.32. The firm has a 50-day moving average of $40.87 and a 200-day moving average of $31.89.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings data 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 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, analysts predict that Guardant Health will post -2.9 EPS for the current fiscal year.

Insider Transactions at Guardant Health

In other Guardant Health news, Director Musa Tariq sold 2,320 shares of the business’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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 2,768 shares of company stock valued at $98,798. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. JNBA Financial Advisors acquired a new stake in Guardant Health during the 3rd quarter worth approximately $26,000. R Squared Ltd acquired a new position in shares of Guardant Health during the fourth quarter worth $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Guardant Health in the third quarter worth $34,000. SBI Securities Co. Ltd. acquired a new stake in Guardant Health in the fourth quarter valued at $43,000. Finally, Kimelman & Baird LLC bought a new position in Guardant Health during the 4th quarter worth $58,000. 92.60% of the stock is currently owned by institutional investors.

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.