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

Guardant Health (NASDAQ:GH) had its price target raised by investment analysts at Scotiabank from $47.00 to $52.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 28.87% from the company’s previous close.

Several other equities research analysts have also issued reports on GH. Raymond James reissued an “outperform” rating and issued a $59.00 price target (up previously from $39.00) on shares of Guardant Health in a report on Friday, February 21st. Stifel Nicolaus boosted their price target on shares of Guardant Health from $45.00 to $53.00 and gave the company a “buy” rating in a report on Friday, February 21st. Guggenheim reissued a “buy” rating and issued a $56.00 price target on shares of Guardant Health in a report on Monday. Canaccord Genuity Group boosted their price target on shares of Guardant Health from $42.00 to $60.00 and gave the company a “buy” rating in a report on Monday. Finally, Sanford C. Bernstein lowered their price target 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. Nineteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $47.37.

Guardant Health Trading Down 4.9 %

Shares of GH stock opened at $40.35 on Monday. Guardant Health has a 1 year low of $15.81 and a 1 year high of $50.89. The firm’s fifty day simple moving average is $40.43 and its 200 day simple moving average is $31.74. The firm has a market capitalization of $4.98 billion, a P/E ratio of -11.33 and a beta of 1.32.

Guardant Health (NASDAQ:GH) last announced its quarterly 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). The business had revenue of $201.81 million during the quarter, compared to the consensus estimate of $192.50 million. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. Equities research analysts anticipate that Guardant Health will post -2.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Musa Tariq sold 2,320 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $35.00, for a total transaction of $81,200.00. Following the transaction, the director now owns 2,676 shares in the company, valued at $93,660. This represents a 46.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 2,768 shares of company stock worth $98,798 in the last 90 days. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Guardant Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its holdings in Guardant Health by 13.5% during the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock worth $59,000 after purchasing an additional 230 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in Guardant Health by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company’s stock worth $377,000 after purchasing an additional 391 shares during the last quarter. Arizona State Retirement System raised its holdings in Guardant Health by 1.1% during the 4th quarter. Arizona State Retirement System now owns 35,639 shares of the company’s stock worth $1,089,000 after purchasing an additional 403 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Guardant Health by 21.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,449 shares of the company’s stock worth $102,000 after purchasing an additional 796 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Guardant Health by 43.5% during the 4th quarter. Jones Financial Companies Lllp now owns 2,696 shares of the company’s stock worth $82,000 after purchasing an additional 817 shares during the last quarter. 92.60% of the stock is 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.