Guardant Health’s (GH) Buy Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Guardant Health (NASDAQ:GH) in a research note released on Wednesday morning,Benzinga reports. BTIG Research currently has a $195.00 target price on the stock.

A number of other equities analysts have also commented on the stock. Evercore reissued an “outperform” rating and issued a $200.00 price target on shares of Guardant Health in a report on Monday, July 6th. Guggenheim lifted 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 Thursday, July 16th. Bank of America upped their target price on shares of Guardant Health from $135.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. UBS Group set a $150.00 target price on Guardant Health in a research note on Wednesday, June 24th. Finally, Canaccord Genuity Group raised their price target on Guardant Health from $135.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Guardant Health has an average rating of “Moderate Buy” and an average target price of $183.78.

Guardant Health Trading Up 0.2%

Shares of NASDAQ GH opened at $161.41 on Wednesday. Guardant Health has a 12 month low of $53.40 and a 12 month high of $176.58. The firm has a market capitalization of $21.66 billion, a price-to-earnings ratio of -46.25 and a beta of 1.57. The business has a 50-day moving average of $159.90 and a 200-day moving average of $122.74.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.34. The company had revenue of $334.98 million during the quarter, compared to the consensus estimate of $314.23 million. During the same quarter last year, the company posted ($0.44) earnings per share. The firm’s revenue for the quarter was up 44.3% on a year-over-year basis. On average, analysts predict that Guardant Health will post -2.98 earnings per share for the current year.

Insider Activity

In other news, Director Musa Tariq sold 1,951 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $131.16, for a total transaction of $255,893.16. Following the completion of the sale, the director directly owned 11,048 shares in the company, valued at approximately $1,449,055.68. This represents a 15.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Terilyn Monroe sold 46,300 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $165.12, for a total value of $7,645,056.00. Following the completion of the sale, the insider directly owned 22,979 shares in the company, valued at $3,794,292.48. The trade was a 66.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 427,024 shares of company stock valued at $67,113,285. 5.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Guardant Health

Several hedge funds have recently made changes to their positions in GH. AQR Capital Management LLC lifted its stake in Guardant Health by 56.5% in the first quarter. AQR Capital Management LLC now owns 71,534 shares of the company’s stock worth $3,012,000 after acquiring an additional 25,831 shares during the period. Empowered Funds LLC bought a new position in shares of Guardant Health in the 1st quarter worth approximately $274,000. Sei Investments Co. raised its position in shares of Guardant Health by 15.8% in the 2nd quarter. Sei Investments Co. now owns 77,308 shares of the company’s stock worth $4,023,000 after acquiring an additional 10,538 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Guardant Health by 9.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company’s stock valued at $32,922,000 after purchasing an additional 54,284 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Guardant Health by 56.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,445 shares of the company’s stock valued at $5,800,000 after purchasing an additional 40,209 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

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.