Stephens Reaffirms “Overweight” Rating for Guardant Health (NASDAQ:GH)

Guardant Health (NASDAQ:GH)‘s stock had its “overweight” rating reissued by investment analysts at Stephens in a research note issued on Wednesday,Benzinga reports. They presently have a $55.00 price objective on the stock. Stephens’ target price would suggest a potential upside of 18.22% from the stock’s previous close.

GH has been the topic of a number of other research reports. Piper Sandler raised their price target on Guardant Health from $34.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Canaccord Genuity Group upped their price target on Guardant Health from $42.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. The Goldman Sachs Group increased their price target on Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Scotiabank upped their price objective on shares of Guardant Health from $47.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 24th. Finally, Morgan Stanley increased their target price on Guardant Health from $42.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Twenty investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Guardant Health has a consensus rating of “Buy” and a consensus price target of $48.95.

Guardant Health Stock Performance

Shares of GH stock traded up $0.07 during mid-day trading on Wednesday, hitting $46.53. 389,600 shares of the stock were exchanged, compared to its average volume of 2,136,523. Guardant Health has a 12-month low of $15.81 and a 12-month high of $50.89. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of -13.09 and a beta of 1.50. The stock’s fifty day simple moving average is $44.20 and its two-hundred day simple moving average is $33.95.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.15). The firm had revenue of $201.81 million during the quarter, compared to analysts’ expectations of $192.50 million. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. On average, research analysts expect that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Guardant Health

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. R Squared Ltd purchased a new position in shares of Guardant Health in the fourth quarter valued at $26,000. SBI Securities Co. Ltd. purchased a new position in Guardant Health in the 4th quarter valued at about $43,000. Kimelman & Baird LLC purchased a new stake in shares of Guardant Health during the fourth quarter worth about $58,000. NewEdge Advisors LLC increased its position in shares of Guardant Health by 13.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock worth $59,000 after acquiring an additional 230 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Guardant Health in the fourth quarter valued at about $61,000. Hedge funds and other institutional investors 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.