Guardant Health (NASDAQ:GH) Price Target Raised to $60.00

Guardant Health (NASDAQ:GH) had its price target raised by TD Securities from $56.00 to $60.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on GH. Morgan Stanley upped their target price on Guardant Health from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Mizuho initiated coverage on Guardant Health in a research note on Thursday, April 10th. They set an “outperform” rating and a $55.00 price objective on the stock. Scotiabank raised their target price on shares of Guardant Health from $47.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. upped their price target on shares of Guardant Health from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, UBS Group increased their price target on shares of Guardant Health from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. Twenty-one research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Guardant Health has a consensus rating of “Buy” and an average price target of $51.64.

Guardant Health Stock Performance

Shares of Guardant Health stock opened at $46.85 on Thursday. Guardant Health has a 52-week low of $18.01 and a 52-week high of $52.92. The business’s 50 day simple moving average is $43.74 and its 200 day simple moving average is $38.23. The firm has a market cap of $5.78 billion, a PE ratio of -13.16 and a beta of 1.45.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.08. The business had revenue of $203.47 million for the quarter, compared to analyst estimates of $189.91 million. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.46) earnings per share. As a group, equities research analysts predict that Guardant Health will post -2.9 EPS for the current year.

Hedge Funds Weigh In On Guardant Health

A number of hedge funds have recently bought and sold shares of GH. Victory Capital Management Inc. raised its holdings in Guardant Health by 1,410.0% in the 1st quarter. Victory Capital Management Inc. now owns 220,124 shares of the company’s stock valued at $9,377,000 after acquiring an additional 205,546 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Guardant Health in the first quarter worth $20,299,000. Edgestream Partners L.P. acquired a new position in Guardant Health in the first quarter valued at about $870,000. Private Capital Advisors Inc. bought a new stake in Guardant Health during the first quarter worth about $13,752,000. Finally, CWM LLC grew its stake in Guardant Health by 180.3% during the first quarter. CWM LLC now owns 2,296 shares of the company’s stock worth $98,000 after buying an additional 1,477 shares in 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.