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

Guardant Health (NASDAQ:GH) had its price target lifted by Guggenheim from $160.00 to $190.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price target suggests a potential upside of 16.59% from the company’s current price.

Several other research analysts have also weighed in on the company. Wolfe Research initiated coverage on Guardant Health in a research report on Tuesday, June 2nd. They issued an “outperform” rating and a $150.00 target price on the stock. Morgan Stanley upped their target price on Guardant Health from $130.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. BTIG Research increased their price objective on shares of Guardant Health from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Barclays boosted their price target on Guardant Health from $120.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Finally, The Goldman Sachs Group initiated coverage on shares of Guardant Health in a research report on Friday, June 5th. They issued a “buy” rating and a $165.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Guardant Health presently has a consensus rating of “Moderate Buy” and an average target price of $160.04.

Guardant Health Stock Performance

Shares of Guardant Health stock opened at $162.96 on Thursday. The company has a market capitalization of $21.61 billion, a PE ratio of -48.07 and a beta of 1.59. The company has a 50-day simple moving average of $131.75 and a two-hundred day simple moving average of $109.58. Guardant Health has a one year low of $40.35 and a one year high of $174.08.

Insiders Place Their Bets

In other news, Director Myrtle S. Potter sold 1,556 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $131.16, for a total transaction of $204,084.96. Following the transaction, the director directly owned 20,971 shares of the company’s stock, valued at $2,750,556.36. This represents a 6.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Brian Bell sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $128.62, for a total transaction of $257,240.00. Following the sale, the chief financial officer owned 47,509 shares of the company’s stock, valued at $6,110,607.58. This trade represents a 4.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 708,565 shares of company stock worth $90,556,597. 5.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Guardant Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. World Investment Advisors purchased a new stake in Guardant Health in the fourth quarter valued at about $1,664,000. Capricorn Fund Managers Ltd lifted its position in shares of Guardant Health by 197.8% in the fourth quarter. Capricorn Fund Managers Ltd now owns 107,787 shares of the company’s stock valued at $11,009,000 after acquiring an additional 71,587 shares in the last quarter. F m Investments LLC lifted its stake in Guardant Health by 24.1% in the 4th quarter. F m Investments LLC now owns 58,567 shares of the company’s stock worth $5,982,000 after purchasing an additional 11,363 shares in the last quarter. Legato Capital Management LLC raised its position in shares of Guardant Health by 140.7% during the 4th quarter. Legato Capital Management LLC now owns 26,076 shares of the company’s stock valued at $2,663,000 after buying an additional 15,241 shares during the period. Finally, Erste Asset Management GmbH raised its stake in shares of Guardant Health by 48.3% in the 4th quarter. Erste Asset Management GmbH now owns 1,045,917 shares of the company’s stock valued at $106,781,000 after acquiring an additional 340,700 shares during the period. Institutional investors 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.