Guardant Health (NASDAQ:GH) Price Target Raised to $50.00

Guardant Health (NASDAQ:GH) had its target price raised by JPMorgan Chase & Co. from $48.00 to $50.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other research analysts also recently issued reports about the stock. TD Cowen lifted their target price on shares of Guardant Health from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Bank of America upped their price objective on shares of Guardant Health from $28.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. The Goldman Sachs Group raised their target price on Guardant Health from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group upped their price target on Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Leerink Partners dropped their price objective on Guardant Health from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Guardant Health currently has an average rating of “Moderate Buy” and an average target price of $39.75.

Guardant Health Price Performance

GH stock traded up $0.02 during mid-day trading on Thursday, hitting $28.61. 2,776,172 shares of the stock were exchanged, compared to its average volume of 1,648,927. The business has a fifty day moving average price of $23.13 and a 200 day moving average price of $26.04. Guardant Health has a 12 month low of $15.81 and a 12 month high of $37.04. The company has a debt-to-equity ratio of 16.70, a current ratio of 6.40 and a quick ratio of 6.07. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of -6.75 and a beta of 1.11.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.33). Guardant Health had a negative return on equity of 660.24% and a negative net margin of 74.02%. The business had revenue of $191.48 million for the quarter, compared to analysts’ expectations of $170.49 million. During the same period last year, the business posted ($0.73) earnings per share. The company’s revenue was up 33.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Guardant Health will post -3.31 EPS for the current year.

Hedge Funds Weigh In On Guardant Health

Hedge funds have recently bought and sold shares of the business. JNBA Financial Advisors purchased a new stake in Guardant Health during the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC purchased a new stake in Guardant Health during the third quarter valued at $34,000. Quarry LP bought a new position in Guardant Health in the second quarter valued at about $44,000. Manchester Capital Management LLC bought a new position in Guardant Health in the first quarter valued at about $57,000. Finally, Canton Hathaway LLC purchased a new position in Guardant Health in the second quarter worth about $59,000. Hedge funds and other institutional investors 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.