Guardant Health (NASDAQ:GH) Given New $50.00 Price Target at BTIG Research

Guardant Health (NASDAQ:GH) had its target price lifted by analysts at BTIG Research from $45.00 to $50.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price objective suggests a potential upside of 37.48% from the company’s current price.

Several other research analysts have also issued reports on the stock. Canaccord Genuity Group increased their target price on shares of Guardant Health from $30.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. The Goldman Sachs Group boosted their target price on Guardant Health from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Craig Hallum started coverage on Guardant Health in a research note on Wednesday, April 24th. They issued a “buy” rating and a $28.00 price objective for the company. Guggenheim upgraded Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Friday, June 28th. Finally, Jefferies Financial Group assumed coverage on shares of Guardant Health in a research report on Monday, June 3rd. They issued a “buy” rating and a $32.00 price target for the company. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.29.

Guardant Health Trading Up 3.1 %

Shares of GH stock traded up $1.09 during mid-day trading on Tuesday, reaching $36.37. 1,936,110 shares of the stock traded hands, compared to its average volume of 1,963,572. The stock’s fifty day simple moving average is $29.27 and its two-hundred day simple moving average is $23.47. Guardant Health has a 1-year low of $15.81 and a 1-year high of $41.06. The company has a quick ratio of 5.66, a current ratio of 5.95 and a debt-to-equity ratio of 16.70. The company has a market cap of $4.45 billion, a price-to-earnings ratio of -9.28 and a beta of 1.13.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.94) EPS for the quarter, hitting analysts’ consensus estimates of ($0.94). The company had revenue of $168.49 million for the quarter, compared to analyst estimates of $150.51 million. Guardant Health had a negative net margin of 76.34% and a negative return on equity of 246.47%. On average, research analysts anticipate that Guardant Health will post -3.31 EPS for the current fiscal year.

Institutional Trading of Guardant Health

A number of institutional investors and hedge funds have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. lifted its holdings in Guardant Health by 208.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,652 shares of the company’s stock valued at $369,000 after purchasing an additional 9,231 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Guardant Health during the fourth quarter worth $326,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Guardant Health by 5.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 54,873 shares of the company’s stock worth $1,484,000 after acquiring an additional 2,689 shares during the period. Baillie Gifford & Co. purchased a new position in shares of Guardant Health in the fourth quarter valued at $167,137,000. Finally, Cerity Partners LLC raised its stake in shares of Guardant Health by 225.4% during the 4th quarter. Cerity Partners LLC now owns 49,642 shares of the company’s stock valued at $1,343,000 after purchasing an additional 34,388 shares during the period. 92.60% of the stock is owned by hedge funds and other 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.