Guardant Health (NASDAQ:GH) PT Raised to $42.00

Guardant Health (NASDAQ:GH) had its price target lifted by research analysts at TD Cowen from $41.00 to $42.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price objective points to a potential upside of 44.83% from the company’s current price.

Other analysts have also recently issued reports about the stock. Stephens restated an “overweight” rating and issued a $44.00 price objective on shares of Guardant Health in a research note on Friday, May 24th. Bank of America boosted their target price on shares of Guardant Health from $28.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Canaccord Genuity Group boosted their target price on shares of Guardant Health from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. JPMorgan Chase & Co. boosted their target price on shares of Guardant Health from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Jefferies Financial Group started coverage on shares of Guardant Health in a research report on Monday, June 3rd. They set a “buy” rating and a $32.00 target price on the stock. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Guardant Health Stock Down 4.2 %

NASDAQ GH traded down $1.27 during trading on Thursday, reaching $29.00. The company’s stock had a trading volume of 2,551,056 shares, compared to its average volume of 2,051,212. The company has a current ratio of 5.95, a quick ratio of 5.66 and a debt-to-equity ratio of 16.70. The stock has a market capitalization of $3.55 billion, a PE ratio of -7.40 and a beta of 1.13. The business has a 50-day moving average price of $30.59 and a 200-day moving average price of $24.02. Guardant Health has a 1-year low of $15.81 and a 1-year high of $41.06.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). Guardant Health had a negative return on equity of 246.47% and a negative net margin of 76.34%. The firm had revenue of $177.24 million during the quarter, compared to analyst estimates of $162.59 million. During the same quarter in the previous year, the firm posted ($0.67) earnings per share. Guardant Health’s quarterly revenue was up 29.2% compared to the same quarter last year. On average, research analysts forecast that Guardant Health will post -3.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GH. Manchester Capital Management LLC bought a new position in Guardant Health in the first quarter valued at about $57,000. Canton Hathaway LLC bought a new stake in shares of Guardant Health during the 2nd quarter valued at approximately $59,000. Headlands Technologies LLC grew its holdings in shares of Guardant Health by 362.3% during the 4th quarter. Headlands Technologies LLC now owns 2,353 shares of the company’s stock valued at $64,000 after purchasing an additional 1,844 shares during the last quarter. Van ECK Associates Corp increased its position in Guardant Health by 29.4% during the 4th quarter. Van ECK Associates Corp now owns 2,702 shares of the company’s stock worth $73,000 after purchasing an additional 614 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new position in Guardant Health in the 1st quarter valued at approximately $75,000. 92.60% of the stock is owned by institutional investors.

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.