Guardant Health (NASDAQ:GH) Price Target Raised to $49.00 at The Goldman Sachs Group

Guardant Health (NASDAQ:GH) had its price target boosted by stock analysts at The Goldman Sachs Group from $36.00 to $49.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 2.83% from the company’s previous close.

Several other brokerages also recently weighed in on GH. JPMorgan Chase & Co. raised their target price on shares of Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Guggenheim restated a “buy” rating on shares of Guardant Health in a research note on Wednesday, January 22nd. Barclays assumed coverage on Guardant Health in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 price target for the company. Sanford C. Bernstein dropped their price target on Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Leerink Partners decreased their price objective on shares of Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Sixteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $42.63.

Guardant Health Trading Down 1.3 %

Shares of NASDAQ GH opened at $47.65 on Tuesday. The stock has a market capitalization of $5.89 billion, a PE ratio of -11.24 and a beta of 1.28. Guardant Health has a 12-month low of $15.81 and a 12-month high of $49.86. The stock’s fifty day simple moving average is $36.31 and its two-hundred day simple moving average is $29.92.

Guardant Health (NASDAQ:GH) last posted its earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.33). The company had revenue of $191.48 million during the quarter, compared to analysts’ expectations of $170.49 million. Guardant Health had a negative net margin of 74.02% and a negative return on equity of 1,200.44%. Guardant Health’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.73) EPS. On average, equities analysts predict that Guardant Health will post -3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Meghan V. Joyce sold 2,896 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total value of $86,590.40. Following the transaction, the director now owns 7,648 shares in the company, valued at $228,675.20. This trade represents a 27.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Musa Tariq sold 2,320 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $35.00, for a total value of $81,200.00. Following the sale, the director now owns 2,676 shares of the company’s stock, valued at $93,660. The trade was a 46.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,548 shares of company stock valued at $179,782. 5.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Guardant Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in GH. JNBA Financial Advisors acquired a new position in Guardant Health during the third quarter worth about $26,000. R Squared Ltd acquired a new stake in shares of Guardant Health in the fourth quarter valued at approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Guardant Health in the third quarter valued at approximately $34,000. Quarry LP purchased a new position in Guardant Health during the second quarter worth approximately $44,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Guardant Health during the second quarter worth $71,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Company Profile

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.