Guardant Health (NASDAQ:GH) Price Target Cut to $190.00 by Analysts at Piper Sandler

Guardant Health (NASDAQ:GH) had its target price lowered by Piper Sandler from $193.00 to $190.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler‘s price objective would indicate a potential upside of 19.65% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Canaccord Genuity Group boosted their price objective on Guardant Health from $135.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Morgan Stanley upped their target price on Guardant Health from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, October 12th. TD Cowen reaffirmed a “buy” rating on shares of Guardant Health in a research note on Tuesday, August 25th. Roth Capital initiated coverage on Guardant Health in a report on Thursday, October 22nd. They set a “buy” rating and a $200.00 price target on the stock. Finally, Royal Bank Of Canada boosted their price target on shares of Guardant Health from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $190.88.

Guardant Health Trading Up 5.2%

GH stock opened at $158.79 on Tuesday. The company has a market cap of $21.31 billion, a price-to-earnings ratio of -43.15 and a beta of 1.67. Guardant Health has a 12 month low of $74.55 and a 12 month high of $191.05. The firm has a 50-day moving average of $169.26 and a two-hundred day moving average of $132.22.

Guardant Health (NASDAQ:GH) last issued its earnings results on Thursday, November 5th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.46. The company had revenue of $360.98 million for the quarter, compared to analyst estimates of $350.72 million. The company’s revenue for the quarter was up 36.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.74) earnings per share. As a group, equities analysts forecast that Guardant Health will post -3.08 earnings per share for the current year.

Insider Buying and Selling

In other Guardant Health news, CTO Darya Chudova sold 7,738 shares of Guardant Health stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $178.00, for a total transaction of $1,377,364.00. Following the completion of the sale, the chief technology officer directly owned 70,635 shares in the company, valued at $12,573,030. This trade represents a 9.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steve E. Krognes sold 6,674 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $175.74, for a total transaction of $1,172,888.76. Following the completion of the sale, the director directly owned 7,906 shares in the company, valued at $1,389,400.44. This trade represents a 45.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 99,455 shares of company stock valued at $16,752,081 over the last three months. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Guardant Health

Several institutional investors have recently added to or reduced their stakes in the stock. Financial Network Wealth Advisors LLC grew its position in shares of Guardant Health by 17.2% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 423 shares of the company’s stock valued at $75,000 after buying an additional 62 shares during the last quarter. Yousif Capital Management LLC lifted its position in Guardant Health by 6.2% in the third quarter. Yousif Capital Management LLC now owns 1,587 shares of the company’s stock valued at $283,000 after acquiring an additional 93 shares during the last quarter. Allworth Financial LP lifted its position in Guardant Health by 12.4% in the second quarter. Allworth Financial LP now owns 1,072 shares of the company’s stock valued at $161,000 after acquiring an additional 118 shares during the last quarter. GAMMA Investing LLC boosted its stake in Guardant Health by 14.5% in the second quarter. GAMMA Investing LLC now owns 965 shares of the company’s stock valued at $145,000 after acquiring an additional 122 shares in the last quarter. Finally, Slow Capital Inc. boosted its stake in Guardant Health by 0.3% in the third quarter. Slow Capital Inc. now owns 52,683 shares of the company’s stock valued at $9,397,000 after acquiring an additional 136 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Company Profile

Guardant Health is a precision oncology company that develops blood- and tissue-based tests to help guide cancer care. Founded in 2012 by Helmy Eltoukhy and AmirAli Talasaz, the company focuses on using genomic information to support cancer detection, treatment selection and disease monitoring.

Its products include Guardant360 tests, which analyze tumor-related genetic changes to help inform treatment decisions, and Guardant Reveal, which is designed to detect residual or recurring cancer after treatment.