Guardant Health (NASDAQ:GH) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Guardant Health (NASDAQ:GH) had its target price raised by JPMorgan Chase & Co. from $90.00 to $120.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 20.00% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Mizuho set a $100.00 price objective on Guardant Health in a report on Thursday, October 30th. Piper Sandler increased their price target on shares of Guardant Health from $60.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Evercore ISI raised their price objective on shares of Guardant Health from $68.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. William Blair reaffirmed an “outperform” rating on shares of Guardant Health in a report on Thursday, September 25th. Finally, BTIG Research increased their target price on shares of Guardant Health from $100.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Twenty-three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.57.

Guardant Health Trading Down 2.6%

Shares of GH stock opened at $100.00 on Monday. The firm’s 50 day moving average is $90.23 and its 200 day moving average is $66.58. The stock has a market capitalization of $12.60 billion, a P/E ratio of -31.15 and a beta of 1.58. Guardant Health has a 12 month low of $29.91 and a 12 month high of $112.43.

Guardant Health (NASDAQ:GH) last issued its 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. The company’s revenue was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.88) EPS. On average, equities analysts predict that Guardant Health will post -2.9 EPS for the current year.

Insider Transactions at Guardant Health

In related news, CEO Amirali Talasaz sold 100,000 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $105.05, for a total transaction of $10,505,000.00. Following the completion of the transaction, the chief executive officer owned 168,223 shares in the company, valued at approximately $17,671,826.15. This represents a 37.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Terilyn J. Monroe sold 55,167 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $105.97, for a total transaction of $5,846,046.99. Following the transaction, the insider directly owned 20,920 shares of the company’s stock, valued at $2,216,892.40. The trade was a 72.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 330,531 shares of company stock valued at $34,526,719. 6.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Allworth Financial LP boosted its holdings in Guardant Health by 19.5% during the 3rd quarter. Allworth Financial LP now owns 844 shares of the company’s stock valued at $53,000 after acquiring an additional 138 shares during the period. Swiss Life Asset Management Ltd purchased a new stake in Guardant Health in the third quarter worth $327,000. CIBC Bancorp USA Inc. bought a new stake in shares of Guardant Health during the third quarter worth $796,000. Danske Bank A S purchased a new stake in shares of Guardant Health during the third quarter valued at $62,000. Finally, Castleark Management LLC grew its holdings in shares of Guardant Health by 31.7% in the third quarter. Castleark Management LLC now owns 160,073 shares of the company’s stock worth $10,001,000 after purchasing an additional 38,513 shares during the last quarter. Institutional investors own 92.60% of the company’s stock.

About Guardant Health

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.