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

Guardant Health (NASDAQ:GH) had its price objective lifted by research analysts at Stifel Nicolaus from $53.00 to $60.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 28.07% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the company. Barclays dropped their price objective on Guardant Health from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Stephens reiterated an “overweight” rating and set a $55.00 price target on shares of Guardant Health in a research note on Wednesday, March 26th. UBS Group increased their price target on shares of Guardant Health from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on shares of Guardant Health from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, Morgan Stanley increased their target price on shares of Guardant Health from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Twenty-one equities 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, the stock currently has a consensus rating of “Buy” and a consensus target price of $51.64.

Guardant Health Trading Down 4.1 %

Shares of GH opened at $46.85 on Thursday. The company’s 50-day moving average price is $43.74 and its 200 day moving average price is $38.12. Guardant Health has a 12-month low of $18.01 and a 12-month high of $52.92. The firm has a market cap of $5.78 billion, a P/E ratio of -13.16 and a beta of 1.45.

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

Institutional Investors Weigh In On Guardant Health

A number of institutional investors and hedge funds have recently bought and sold shares of GH. NewEdge Advisors LLC boosted its holdings 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 acquiring an additional 230 shares during the period. Summit Investment Advisors Inc. boosted its stake 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 period. Arizona State Retirement System grew its position 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. GF Fund Management CO. LTD. increased its stake in Guardant Health by 22.0% in the first quarter. GF Fund Management CO. LTD. now owns 3,164 shares of the company’s stock valued at $135,000 after purchasing an additional 570 shares during the period. Finally, Xponance Inc. raised its holdings in shares of Guardant Health by 6.8% in the first quarter. Xponance Inc. now owns 9,116 shares of the company’s stock valued at $388,000 after buying an additional 582 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

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.