Guardant Health (NASDAQ:GH) Price Target Raised to $120.00

Guardant Health (NASDAQ:GH) had its price target increased by Mizuho from $100.00 to $120.00 in a research report released on Wednesday, MarketBeat.com reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts also recently issued reports on the company. Guggenheim raised their target price on Guardant Health from $56.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. UBS Group lifted their target price on shares of Guardant Health from $80.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Evercore ISI boosted their target price on shares of Guardant Health from $68.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Guardant Health in a research note on Wednesday, October 8th. Finally, Wolfe Research raised shares of Guardant Health from a “peer perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research report on Thursday, September 25th. Twenty-three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Guardant Health presently has an average rating of “Moderate Buy” and an average target price of $95.52.

Guardant Health Price Performance

GH opened at $99.74 on Wednesday. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of -31.07 and a beta of 1.58. The company’s 50 day simple moving average is $92.22 and its two-hundred day simple moving average is $67.40. Guardant Health has a 1-year low of $29.91 and a 1-year high of $112.43.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Wednesday, October 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.09. During the same period in the previous year, the business earned ($0.88) earnings per share. The firm’s quarterly revenue was up 38.5% compared to the same quarter last year. On average, equities analysts anticipate that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Chris Freeman sold 31,452 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $103.07, for a total transaction of $3,241,757.64. Following the completion of the transaction, the insider directly owned 25,987 shares in the company, valued at $2,678,480.09. This trade represents a 54.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Helmy Eltoukhy sold 90,565 shares of Guardant Health stock in a transaction on Monday, December 15th. The shares were sold at an average price of $103.82, for a total value of $9,402,458.30. Following the completion of the sale, the chief executive officer directly owned 2,047,143 shares of the company’s stock, valued at $212,534,386.26. The trade was a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 426,663 shares of company stock worth $44,508,069 in the last three months. 6.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Guardant Health

Hedge funds have recently bought and sold shares of the company. Driehaus Capital Management LLC acquired a new position in Guardant Health in the 1st quarter valued at about $82,349,000. Alyeska Investment Group L.P. purchased a new position in shares of Guardant Health in the third quarter valued at approximately $114,421,000. ARK Investment Management LLC grew its holdings in shares of Guardant Health by 100.4% in the second quarter. ARK Investment Management LLC now owns 2,823,497 shares of the company’s stock valued at $146,935,000 after purchasing an additional 1,414,381 shares in the last quarter. Norges Bank purchased a new stake in Guardant Health during the 2nd quarter worth approximately $64,136,000. Finally, Franklin Resources Inc. lifted its holdings in Guardant Health by 78.2% during the 2nd quarter. Franklin Resources Inc. now owns 2,319,947 shares of the company’s stock worth $120,730,000 after buying an additional 1,018,144 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Company Profile

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.