Guardant Health, Inc. (NASDAQ:GH) Receives $141.95 Consensus Target Price from Analysts

Guardant Health, Inc. (NASDAQ:GH) has received a consensus rating of “Moderate Buy” from the twenty-three research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $141.9524.

Several brokerages have recently weighed in on GH. Wolfe Research began coverage on shares of Guardant Health in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $150.00 target price on the stock. BTIG Research set a $160.00 target price on shares of Guardant Health and gave the company a “buy” rating in a research report on Wednesday, May 27th. Royal Bank Of Canada began coverage on shares of Guardant Health in a research report on Thursday, June 11th. They set an “outperform” rating and a $185.00 target price on the stock. Mizuho lifted their target price on shares of Guardant Health from $135.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Finally, Guggenheim lowered shares of Guardant Health from a “buy” rating to a “buy” rating in a research report on Thursday, May 28th.

Guardant Health Stock Up 1.6%

GH stock opened at $130.83 on Friday. Guardant Health has a twelve month low of $40.35 and a twelve month high of $135.00. The company has a market cap of $17.35 billion, a PE ratio of -38.59 and a beta of 1.61. The business’s 50-day simple moving average is $109.11 and its 200 day simple moving average is $103.22.

Insider Buying and Selling at Guardant Health

In other news, CEO Helmy Eltoukhy sold 100,000 shares of Guardant Health stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the sale, the chief executive officer directly owned 2,012,919 shares in the company, valued at approximately $254,231,669.70. The trade was a 4.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Myrtle S. Potter sold 1,556 shares of Guardant Health stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $131.16, for a total transaction of $204,084.96. Following the sale, the director owned 20,971 shares in the company, valued at approximately $2,750,556.36. This trade represents a 6.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 452,513 shares of company stock worth $51,608,916 in the last 90 days. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Guardant Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in Guardant Health in the fourth quarter valued at about $27,000. Chesapeake Asset Management LLC acquired a new position in Guardant Health in the fourth quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Guardant Health in the fourth quarter valued at about $31,000. Elyxium Wealth LLC acquired a new position in Guardant Health in the fourth quarter valued at about $35,000. Finally, Parallel Advisors LLC boosted its position in Guardant Health by 164.7% in the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock valued at $36,000 after buying an additional 219 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

About Guardant Health

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.