Guardant Health (NASDAQ:GH) Given New $50.00 Price Target at Piper Sandler

Guardant Health (NASDAQ:GH) had its price target hoisted by Piper Sandler from $34.00 to $50.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

GH has been the subject of several other reports. Barclays initiated coverage on Guardant Health in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 target price for the company. Scotiabank raised their price objective on Guardant Health from $47.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Monday. Stifel Nicolaus upped their target price on Guardant Health from $45.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Canaccord Genuity Group lifted their price target on shares of Guardant Health from $42.00 to $60.00 and gave the company a “buy” rating in a research report on Monday. Finally, Raymond James restated an “outperform” rating and set a $59.00 price objective (up previously from $39.00) on shares of Guardant Health in a report on Friday, February 21st. Nineteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $48.21.

Guardant Health Stock Up 7.0 %

Shares of Guardant Health stock opened at $43.19 on Wednesday. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of -12.13 and a beta of 1.32. Guardant Health has a twelve month low of $15.81 and a twelve month high of $50.89. The company’s fifty day moving average is $40.65 and its 200 day moving average is $31.82.

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

Insider Buying and Selling

In related news, Director Musa Tariq sold 2,320 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was 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 approximately $93,660. This represents a 46.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 2,768 shares of company stock valued at $98,798. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Guardant Health

Large investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC grew its holdings in shares of Guardant Health by 13.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company’s stock worth $59,000 after purchasing an additional 230 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in Guardant Health by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company’s stock valued at $377,000 after buying an additional 391 shares during the period. Arizona State Retirement System grew its stake in Guardant Health by 1.1% in the 4th quarter. Arizona State Retirement System now owns 35,639 shares of the company’s stock worth $1,089,000 after acquiring an additional 403 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Guardant Health by 21.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,449 shares of the company’s stock worth $102,000 after acquiring an additional 796 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in shares of Guardant Health by 43.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,696 shares of the company’s stock valued at $82,000 after acquiring an additional 817 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

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.