Guardant Health (NASDAQ:GH) Price Target Raised to $190.00

Guardant Health (NASDAQ:GHGet Free Report) had its target price raised by equities research analysts at Bank of America from $135.00 to $190.00 in a research report issued on Monday, MarketBeat reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 13.11% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Guardant Health in a report on Tuesday, April 21st. Evercore raised Guardant Health from an “in-line” rating to an “outperform” rating and set a $160.00 target price for the company in a report on Tuesday, June 2nd. Mizuho increased their price target on Guardant Health from $135.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Royal Bank Of Canada assumed coverage on Guardant Health in a report on Thursday, June 11th. They issued an “outperform” rating and a $185.00 price target on the stock. Finally, BTIG Research boosted their price objective on Guardant Health from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Guardant Health currently has a consensus rating of “Moderate Buy” and an average price target of $149.17.

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Guardant Health Stock Performance

Shares of GH stock opened at $167.98 on Monday. The firm has a fifty day simple moving average of $119.89 and a 200-day simple moving average of $106.12. Guardant Health has a twelve month low of $40.35 and a twelve month high of $172.60. The company has a market capitalization of $22.27 billion, a PE ratio of -49.55 and a beta of 1.59.

Insider Activity at Guardant Health

In other Guardant Health news, CEO Helmy Eltoukhy sold 100,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the completion of the transaction, the chief executive officer owned 2,012,919 shares in the company, valued at approximately $254,231,669.70. The trade was a 4.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Myrtle S. Potter sold 1,556 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $131.16, for a total value of $204,084.96. Following the completion of the transaction, the director directly owned 20,971 shares of the company’s stock, valued at approximately $2,750,556.36. The trade was a 6.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 708,681 shares of company stock valued at $90,566,438. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Guardant Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Guardant Health by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 12,160,768 shares of the company’s stock valued at $1,242,101,000 after acquiring an additional 251,939 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Guardant Health by 33.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company’s stock worth $575,670,000 after purchasing an additional 1,414,441 shares during the period. Franklin Resources Inc. boosted its stake in Guardant Health by 14.9% during the 4th quarter. Franklin Resources Inc. now owns 3,361,547 shares of the company’s stock valued at $343,348,000 after purchasing an additional 435,232 shares in the last quarter. Geode Capital Management LLC boosted its stake in Guardant Health by 9.4% during the 4th quarter. Geode Capital Management LLC now owns 3,213,657 shares of the company’s stock valued at $328,297,000 after purchasing an additional 277,001 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its position in shares of Guardant Health by 3.0% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,441,730 shares of the company’s stock valued at $249,398,000 after purchasing an additional 72,162 shares during the period. 92.60% of the stock is currently owned by institutional investors.

About Guardant Health

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Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.

Further Reading

Analyst Recommendations for Guardant Health (NASDAQ:GH)

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