Guardant Health (NASDAQ:GH) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Guardant Health (NASDAQ:GH) had its target price raised by equities researchers at JPMorgan Chase & Co. from $90.00 to $120.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 15.40% from the company’s previous close.

A number of other analysts have also recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Guardant Health in a research report on Wednesday, October 8th. BTIG Research boosted their price target on shares of Guardant Health from $100.00 to $140.00 and gave the company a “buy” rating in a report on Friday. Cowen reaffirmed a “buy” rating on shares of Guardant Health in a report on Thursday, October 30th. Guggenheim lifted their target price on shares of Guardant Health from $56.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. Finally, TD Cowen upped their target price on shares of Guardant Health from $63.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, September 25th. Twenty-three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $94.57.

Guardant Health Stock Up 1.9%

NASDAQ GH traded up $1.92 during midday trading on Monday, hitting $103.99. The company had a trading volume of 919,578 shares, compared to its average volume of 2,447,357. The firm has a fifty day simple moving average of $88.71 and a two-hundred day simple moving average of $65.71. Guardant Health has a fifty-two week low of $29.91 and a fifty-two week high of $112.43. The stock has a market cap of $13.11 billion, a price-to-earnings ratio of -32.36 and a beta of 1.58.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Wednesday, October 29th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.09. During the same quarter last year, the business posted ($0.88) EPS. The firm’s quarterly revenue was up 38.5% on a year-over-year basis. As a group, equities analysts predict that Guardant Health will post -2.9 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ian T. Clark sold 28,611 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $107.19, for a total transaction of $3,066,813.09. Following the transaction, the director owned 9,851 shares in the company, valued at $1,055,928.69. This represents a 74.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Brian Bell sold 80,362 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $103.14, for a total transaction of $8,288,536.68. Following the completion of the sale, the chief financial officer owned 28,052 shares of the company’s stock, valued at $2,893,283.28. The trade was a 74.13% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 330,673 shares of company stock valued at $34,534,618. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

Large investors have recently bought and sold shares of the business. Sound Income Strategies LLC acquired a new stake in Guardant Health during the 3rd quarter worth $38,000. IFP Advisors Inc increased its holdings in Guardant Health by 120.1% in the second quarter. IFP Advisors Inc now owns 612 shares of the company’s stock valued at $33,000 after purchasing an additional 334 shares during the last quarter. Signaturefd LLC lifted its stake in Guardant Health by 50.5% in the second quarter. Signaturefd LLC now owns 635 shares of the company’s stock valued at $33,000 after buying an additional 213 shares during the period. Allworth Financial LP boosted its holdings in Guardant Health by 358.4% during the second quarter. Allworth Financial LP now owns 706 shares of the company’s stock worth $37,000 after buying an additional 552 shares during the last quarter. Finally, Optiver Holding B.V. boosted its holdings in Guardant Health by 153.5% during the third quarter. Optiver Holding B.V. now owns 768 shares of the company’s stock worth $48,000 after buying an additional 465 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.