Guardant Health (NASDAQ:GH) Given New $60.00 Price Target at Barclays

Guardant Health (NASDAQ:GH) had its target price upped by Barclays from $55.00 to $60.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

GH has been the topic of several other research reports. JPMorgan Chase & Co. boosted their price target on shares of Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Raymond James reiterated an “outperform” rating and issued a $59.00 price objective (up previously from $39.00) on shares of Guardant Health in a report on Friday, February 21st. UBS Group raised their price target on shares of Guardant Health from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday. Piper Sandler upped their price target on Guardant Health from $34.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, Morgan Stanley lifted their price objective on Guardant Health from $42.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Twenty-one equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Guardant Health currently has an average rating of “Buy” and a consensus price target of $51.64.

Guardant Health Stock Down 4.1 %

Shares of GH 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 stock has a market cap of $5.78 billion, a PE ratio of -13.16 and a beta of 1.45. The business has a 50-day simple moving average of $43.74 and a 200-day simple moving average of $38.23.

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 firm had revenue of $203.47 million for the quarter, compared to analysts’ expectations of $189.91 million. During the same quarter last year, the company earned ($0.46) EPS. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. Sell-side analysts anticipate that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Guardant Health

Several institutional investors have recently made changes to their positions in the stock. R Squared Ltd purchased a new position in shares of Guardant Health in the 4th quarter valued at about $26,000. SBI Securities Co. Ltd. acquired a new stake in shares of Guardant Health during the 4th quarter valued at approximately $43,000. Kimelman & Baird LLC purchased a new stake in shares of Guardant Health during the 4th quarter worth approximately $58,000. NewEdge Advisors LLC grew its holdings in shares of Guardant Health by 13.5% in the 4th quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock worth $59,000 after acquiring an additional 230 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Guardant Health in the 4th quarter valued at approximately $61,000. 92.60% of the stock is currently owned by hedge funds and other 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.