Guardant Health (NASDAQ:GH) Stock Price Expected to Rise, Scotiabank Analyst Says

Guardant Health (NASDAQ:GH) had its price target increased by stock analysts at Scotiabank from $47.00 to $52.00 in a report issued on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 20.92% from the company’s previous close.

Several other equities analysts have also issued reports on the stock. Raymond James reaffirmed an “outperform” rating and issued a $59.00 price target (up from $39.00) on shares of Guardant Health in a report on Friday. JPMorgan Chase & Co. boosted their target price on Guardant Health from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday. Guggenheim reissued a “buy” rating and issued a $56.00 price target on shares of Guardant Health in a report on Monday. Stifel Nicolaus upped their price objective on shares of Guardant Health from $45.00 to $53.00 and gave the company a “buy” rating in a report on Friday. Finally, Barclays started coverage on shares of Guardant Health in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 target price for the company. Nineteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $47.37.

Guardant Health Trading Up 0.3 %

Shares of Guardant Health stock traded up $0.13 during trading on Monday, hitting $43.00. 431,493 shares of the stock traded hands, compared to its average volume of 2,498,636. The stock’s fifty day simple moving average is $40.19 and its 200 day simple moving average is $31.57. The firm has a market cap of $5.31 billion, a P/E ratio of -12.11 and a beta of 1.32. Guardant Health has a 52-week low of $15.81 and a 52-week high of $50.89.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.15). The business had revenue of $201.81 million during the quarter, compared to the consensus estimate of $192.50 million. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. As a group, equities analysts expect that Guardant Health will post -2.9 EPS for the current year.

Insider Transactions at Guardant Health

In other news, Director Musa Tariq sold 2,320 shares of Guardant Health stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $35.00, for a total transaction of $81,200.00. Following the completion of the transaction, the director now directly owns 2,676 shares of the company’s stock, valued at $93,660. The trade was a 46.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 2,768 shares of company stock worth $98,798 over the last quarter. 5.50% of the stock is currently owned by insiders.

Institutional Trading of Guardant Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JNBA Financial Advisors purchased a new stake in shares of Guardant Health in the third quarter valued at approximately $26,000. R Squared Ltd acquired a new stake in Guardant Health in the 4th quarter valued at $26,000. Ashton Thomas Securities LLC acquired a new stake in Guardant Health in the 3rd quarter valued at $34,000. SBI Securities Co. Ltd. purchased a new stake in Guardant Health in the 4th quarter worth $43,000. Finally, Kimelman & Baird LLC acquired a new position in Guardant Health during the fourth quarter worth $58,000. 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.