JPMorgan Chase & Co. Boosts Guardant Health (NASDAQ:GH) Price Target to $48.00

Guardant Health (NASDAQ:GH) had its target price increased by JPMorgan Chase & Co. from $45.00 to $48.00 in a report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also recently issued reports on the company. The Goldman Sachs Group upped their target price on Guardant Health from $28.00 to $32.00 and gave the company a buy rating in a report on Wednesday, July 17th. Craig Hallum upped their target price on Guardant Health from $28.00 to $37.00 and gave the company a buy rating in a report on Thursday. Jefferies Financial Group started coverage on Guardant Health in a report on Monday, June 3rd. They set a buy rating and a $32.00 price target for the company. BTIG Research increased their price target on Guardant Health from $45.00 to $50.00 and gave the stock a buy rating in a report on Tuesday, July 30th. Finally, Guggenheim upgraded Guardant Health from a neutral rating to a buy rating and set a $36.00 price target for the company in a report on Friday, June 28th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $39.00.

Guardant Health Price Performance

Shares of NASDAQ:GH traded down $1.27 during trading on Thursday, reaching $29.00. The stock had a trading volume of 2,551,056 shares, compared to its average volume of 2,051,212. The business has a fifty day moving average price of $30.59 and a 200-day moving average price of $24.03. The stock has a market cap of $3.55 billion, a PE ratio of -7.40 and a beta of 1.13. The company has a debt-to-equity ratio of 16.70, a quick ratio of 5.66 and a current ratio of 5.95. 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 earnings results on Wednesday, August 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.10). The company had revenue of $177.24 million during the quarter, compared to analysts’ expectations of $162.59 million. Guardant Health had a negative net margin of 76.34% and a negative return on equity of 246.47%. The firm’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.67) earnings per share. On average, equities analysts forecast that Guardant Health will post -3.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Guardant Health

Several hedge funds have recently bought and sold shares of the company. Capital International Investors raised its position in Guardant Health by 36.7% in the 4th quarter. Capital International Investors now owns 4,001,803 shares of the company’s stock valued at $108,249,000 after purchasing an additional 1,074,452 shares in the last quarter. Norges Bank acquired a new stake in Guardant Health in the 4th quarter valued at about $25,520,000. Cadian Capital Management LP acquired a new stake in Guardant Health in the 4th quarter valued at about $19,206,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Guardant Health in the 1st quarter valued at about $8,300,000. Finally, abrdn plc acquired a new stake in Guardant Health in the 4th quarter valued at about $9,362,000. Institutional investors and hedge funds 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.