Guardant Health (NASDAQ:GH) Price Target Raised to $75.00 at Leerink Partners

Guardant Health (NASDAQ:GH) had its price objective raised by Leerink Partners from $70.00 to $75.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also issued reports on GH. BTIG Research set a $80.00 price objective on shares of Guardant Health in a report on Thursday. UBS Group increased their price target on shares of Guardant Health from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday. Scotiabank lifted their price target on shares of Guardant Health from $57.00 to $60.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. increased their price objective on Guardant Health from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Cowen reissued a “buy” rating on shares of Guardant Health in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating and twenty-two have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $64.75.

Guardant Health Stock Performance

NASDAQ:GH opened at $60.18 on Thursday. Guardant Health has a one year low of $20.14 and a one year high of $68.00. The stock has a market cap of $7.51 billion, a PE ratio of -17.96 and a beta of 1.46. The stock has a 50 day moving average price of $55.34 and a 200 day moving average price of $48.72.

Guardant Health (NASDAQ:GH) last issued its earnings results on Wednesday, July 30th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.08. The company had revenue of $232.09 million during the quarter, compared to analysts’ expectations of $211.19 million. During the same quarter in the previous year, the company earned ($0.84) earnings per share. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. Guardant Health has set its FY 2025 guidance at EPS. As a group, analysts predict that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Guardant Health

In other news, Director Medina Manuel Hidalgo sold 2,165 shares of Guardant Health stock in a transaction on Friday, September 12th. The stock was sold at an average price of $54.16, for a total value of $117,256.40. Following the completion of the sale, the director directly owned 851 shares of the company’s stock, valued at approximately $46,090.16. The trade was a 71.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Helmy Eltoukhy sold 300,000 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $59.45, for a total value of $17,835,000.00. Following the completion of the sale, the chief executive officer owned 2,123,499 shares in the company, valued at $126,242,015.55. This represents a 12.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 402,691 shares of company stock valued at $23,069,965 over the last quarter. 6.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Guardant Health

Several institutional investors have recently bought and sold shares of GH. IFP Advisors Inc grew its stake in shares of Guardant Health by 120.1% in the second quarter. IFP Advisors Inc now owns 612 shares of the company’s stock worth $33,000 after acquiring an additional 334 shares in the last quarter. Signaturefd LLC boosted its holdings in Guardant Health by 50.5% in the second quarter. Signaturefd LLC now owns 635 shares of the company’s stock valued at $33,000 after purchasing an additional 213 shares during the period. Allworth Financial LP boosted its holdings in Guardant Health by 358.4% in the second quarter. Allworth Financial LP now owns 706 shares of the company’s stock valued at $37,000 after purchasing an additional 552 shares during the period. FNY Investment Advisers LLC acquired a new position in Guardant Health during the 2nd quarter worth $62,000. Finally, SVB Wealth LLC purchased a new stake in Guardant Health during the 1st quarter worth about $54,000. 92.60% of the stock is owned by institutional investors and hedge funds.

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.