Barclays Cuts Guardant Health (NASDAQ:GH) Price Target to $55.00

Guardant Health (NASDAQ:GH) had its target price cut by Barclays from $60.00 to $55.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently commented on GH. Stephens reaffirmed an “overweight” rating and set a $55.00 price objective on shares of Guardant Health in a research report on Wednesday, March 26th. Stifel Nicolaus lifted their price target on shares of Guardant Health from $45.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. The Goldman Sachs Group raised their target price on shares of Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Piper Sandler boosted their target price on shares of Guardant Health from $34.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Scotiabank raised their price target on Guardant Health from $47.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 24th. Twenty investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Guardant Health presently has a consensus rating of “Buy” and a consensus price target of $49.00.

Guardant Health Price Performance

Shares of NASDAQ:GH opened at $43.71 on Thursday. The business has a fifty day moving average price of $43.57 and a 200-day moving average price of $35.69. The company has a market capitalization of $5.39 billion, a PE ratio of -12.28 and a beta of 1.45. Guardant Health has a 1-year low of $15.81 and a 1-year high of $50.89.

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 analysts’ consensus estimates of ($0.75) by ($0.15). The firm had revenue of $201.81 million for 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%. On average, sell-side analysts anticipate that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Institutional Trading of Guardant Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in GH. R Squared Ltd bought a new stake in Guardant Health in the 4th quarter valued at $26,000. SBI Securities Co. Ltd. bought a new stake in shares of Guardant Health in the fourth quarter worth about $43,000. Kimelman & Baird LLC purchased a new stake in shares of Guardant Health in the fourth quarter worth about $58,000. NewEdge Advisors LLC boosted its stake in Guardant Health by 13.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock valued at $59,000 after buying an additional 230 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Guardant Health during the 4th quarter valued at approximately $61,000. 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.