Guardant Health (NASDAQ:GH) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Guardant Health (NASDAQ:GH) had its price objective upped by equities researchers at Canaccord Genuity Group from $100.00 to $125.00 in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 21.95% from the stock’s current price.

Several other equities research analysts also recently weighed in on GH. Evercore ISI raised their price target 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. Piper Sandler lifted their target price on Guardant Health from $60.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Guggenheim boosted their price target on Guardant Health from $56.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. JPMorgan Chase & Co. increased their price objective on Guardant Health from $90.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. Finally, Mizuho lifted their price objective on Guardant Health from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Twenty-three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.71.

Guardant Health Trading Up 1.1%

Shares of NASDAQ GH opened at $102.50 on Monday. The firm has a fifty day simple moving average of $93.81 and a two-hundred day simple moving average of $68.45. Guardant Health has a 12 month low of $29.91 and a 12 month high of $112.43. The firm has a market capitalization of $12.92 billion, a PE ratio of -31.93 and a beta of 1.58.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Wednesday, October 29th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.09. The firm’s revenue was up 38.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.88) EPS. On average, sell-side analysts predict that Guardant Health will post -2.9 earnings per share for the current year.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, Director Medina Manuel Hidalgo sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $105.00, for a total transaction of $131,250.00. Following the completion of the sale, the director directly owned 797 shares in the company, valued at approximately $83,685. The trade was a 61.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ian T. Clark sold 28,611 shares of the stock in a transaction on Friday, December 5th. The shares were sold at an average price of $107.19, for a total value of $3,066,813.09. Following the completion of the transaction, the director directly owned 9,851 shares of the company’s stock, valued at approximately $1,055,928.69. This represents a 74.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 426,663 shares of company stock valued at $44,508,069. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Guardant Health

Institutional investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. grew its stake in Guardant Health by 6.6% during the 3rd quarter. Baillie Gifford & Co. now owns 5,127,692 shares of the company’s stock worth $320,378,000 after purchasing an additional 317,906 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Guardant Health by 27.3% during the second quarter. Invesco Ltd. now owns 3,558,501 shares of the company’s stock worth $185,184,000 after buying an additional 763,834 shares during the period. Franklin Resources Inc. increased its holdings in shares of Guardant Health by 26.1% in the third quarter. Franklin Resources Inc. now owns 2,926,315 shares of the company’s stock valued at $182,836,000 after purchasing an additional 606,368 shares during the period. Geode Capital Management LLC raised its stake in shares of Guardant Health by 0.5% during the second quarter. Geode Capital Management LLC now owns 2,920,714 shares of the company’s stock worth $152,014,000 after purchasing an additional 13,088 shares during the last quarter. Finally, ARK Investment Management LLC increased its stake in Guardant Health by 100.4% in the 2nd quarter. ARK Investment Management LLC now owns 2,823,497 shares of the company’s stock valued at $146,935,000 after buying an additional 1,414,381 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

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.