Brokerages Set Guardant Health, Inc. (NASDAQ:GH) Price Target at $49.00

Guardant Health, Inc. (NASDAQ:GH) has received a consensus rating of “Buy” from the twenty-one research firms that are currently covering the firm, Marketbeat reports. Twenty analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $49.00.

A number of research analysts have recently commented on the stock. Canaccord Genuity Group boosted their target price on shares of Guardant Health from $42.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. The Goldman Sachs Group upped their price objective on shares of Guardant Health from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Mizuho started coverage on Guardant Health in a research report on Thursday, April 10th. They set an “outperform” rating and a $55.00 target price on the stock. Barclays reduced their price target on Guardant Health from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Finally, Guggenheim restated a “buy” rating and set a $56.00 price objective on shares of Guardant Health in a report on Monday, February 24th.

Institutional Investors Weigh In On Guardant Health

A number of hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new position in shares of Guardant Health during the fourth quarter worth about $26,000. SBI Securities Co. Ltd. acquired a new position in Guardant Health during the 4th quarter valued at about $43,000. Kimelman & Baird LLC bought a new position in Guardant Health in the 4th quarter worth about $58,000. NewEdge Advisors LLC increased its stake in shares of Guardant Health by 13.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock valued at $59,000 after purchasing an additional 230 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Guardant Health during the fourth quarter valued at approximately $61,000. 92.60% of the stock is currently owned by institutional investors.

Guardant Health Trading Up 3.9 %

Shares of Guardant Health stock opened at $47.41 on Friday. The company has a fifty day moving average price of $43.37 and a 200 day moving average price of $37.00. Guardant Health has a twelve month low of $16.77 and a twelve month high of $50.89. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of -13.32 and a beta of 1.45.

Guardant Health (NASDAQ:GH) last posted its earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.15). The company had revenue of $201.81 million during the quarter, compared to analyst estimates of $192.50 million. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. Analysts forecast that Guardant Health will post -2.9 earnings per share for the current year.

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.