Brokerages Set Guardant Health, Inc. (NASDAQ:GH) PT at $39.00

Shares of Guardant Health, Inc. (NASDAQ:GH) have received an average rating of “Moderate Buy” from the seventeen research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $39.27.

Several equities research analysts recently issued reports on the stock. Craig Hallum lifted their price objective on shares of Guardant Health from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. TD Cowen boosted their price target on Guardant Health from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Stephens reissued an “overweight” rating and set a $44.00 price objective on shares of Guardant Health in a report on Friday, May 24th. Piper Sandler boosted their target price on Guardant Health from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Finally, 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 on the stock.

Guardant Health Stock Performance

GH stock opened at $28.38 on Tuesday. The firm has a 50 day simple moving average of $30.62 and a 200 day simple moving average of $24.27. Guardant Health has a 52 week low of $15.81 and a 52 week high of $41.06. The stock has a market cap of $3.47 billion, a P/E ratio of -7.24 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 (NASDAQ:GH) last announced its quarterly earnings data 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). 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 for the quarter, compared to analysts’ expectations of $162.59 million. During the same quarter in the prior year, the business posted ($0.67) earnings per share. Guardant Health’s revenue was up 29.2% on a year-over-year basis. Research analysts anticipate that Guardant Health will post -3.31 earnings per share for the current fiscal year.

Institutional Trading of Guardant Health

Several hedge funds have recently modified their holdings of GH. Quarry LP bought a new stake in shares of Guardant Health during the second quarter worth $44,000. Manchester Capital Management LLC acquired a new stake in Guardant Health in the 1st quarter valued at about $57,000. Canton Hathaway LLC bought a new position in shares of Guardant Health in the second quarter worth about $59,000. Headlands Technologies LLC lifted its position in shares of Guardant Health by 362.3% during the fourth quarter. Headlands Technologies LLC now owns 2,353 shares of the company’s stock worth $64,000 after purchasing an additional 1,844 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Guardant Health during the second quarter valued at approximately $71,000. 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.